Tag: business tips

Form 5500 Filing Dates

Form 5500

Benefit plans must annually file Form 5500 with the IRS by July 31 but they can extend that deadline.  The forms present the inflows and outflows from the plan as well as the fees paid and to whom.  The form presents a balance sheet for the benefit plan as shows who received benefit payments. There… Read more »

IRS Announces 2017 Cost of Living Adjustments

Cost of living adjustments

The IRS just announced the 2017 cost-of-living adjustments. There re numerous adjustments but some of the highlights are discussed below. The IRA contribution limits remain unchanged at $5,500 with the catch-up still at an additional $1,000, while the IRA phase-out for IRA contributions also climbed by $1,000 to $99,000 to $119,000 (married) and $62,000 to… Read more »