IRS Unveils Retirement Plan Navigator

Written by Reed Tinsley, CPA | October 15, 2009

 

The IRS announced a new Web-based tool to help small businesses (i.e. medical practices) determine which tax-favored pension plan best suits their needs and how to keep the plan in compliance with the law. The navigator focuses on three areas—choosing a plan, maintaining a plan, and correcting a plan—and can be accessed at

 http://www.retirementplans.irs.gov

It does not suggest which plan may be best for the business, but it does lay out the options and includes a side-by-side comparison of pension plans and their requirements. The navigator also offers suggested options for businesses seeking to correct errors and bring their plan back into compliance.

About the Author

Reed Tinsley CPA

This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on accounting & tax, practice management, and financial planning. Schedule a Free Consultation.

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