Retirement Plans - IRA and 401K

Gemator · ‎05-17-2020

Is it possible to set up another retirement plan like 401K if the business owner has an IRA in place for 2019 to increase tax deductions?

IRonMaN · ‎05-17-2020

It's possible, but then he may lose the deductibility of the IRA.

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abctax55 · ‎05-17-2020

I think it's a bit too late to set up a 401K for 2019...

Former Chump..umm... AllStar...This message was typed from 6 feet away so you can safely read it immediately.

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Gemator · ‎05-19-2020

Even if the tax filing deadline for 2019 has been extended to July 15 this year?

Thanks.

qbteachmt · ‎05-17-2020

You asked Twice. Here's the original:

https://proconnect.intuit.com/community/lacerte-discussions/discussion/retirement-plan-for-2019/01/8...

No need to keep starting from the beginning again. Thanks.

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"Level Up" is a gaming function, not a real life function.

Gemator · ‎05-19-2020

OK, thanks for the reminder. Noted.

Retirement Plans - IRA and 401K

Lacerte Tax

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