The Benefits of Using a Professional to Prepare Your Tax Return
Whether you’re navigating multiple income streams, dealing with deductions, or trying to avoid costly errors, a professional can help make the process smoother and more accurate.
Fortunately, the IRS and recent legislation, including the SECURE 2.0 Act, offer generous tax credits that can significantly reduce or even eliminate many of these startup expenses.
One of the most impactful incentives is the Retirement Plans Startup Costs Credit. This credit allows eligible businesses to receive up to $5,000 per year for the first three years, covering up to 50% of the ordinary and necessary costs to set up and administer a new retirement plan, including employee education.
If your business has 100 or fewer employees who earned at least $5,000 in the previous year and you didn’t have a retirement plan in place in the last three years, you likely qualify.
Thanks to the SECURE 2.0 Act, there’s now an additional benefit: the Employer Contribution Credit. For businesses with 50 or fewer employees, the government now covers a portion of the employer contributions made to employees’ accounts, up to $1,000 per employee, phased down over five years. This new credit helps offset the cost of matching or non-elective contributions, making it easier for small businesses to offer competitive retirement benefits.
Additionally, the Auto-Enrollment Credit provides another $500 per year for three years if the plan includes an automatic enrollment feature—an increasingly popular way to boost employee participation and encourage saving.
The Benefits of Using a Professional to Prepare Your Tax Return
Whether you’re navigating multiple income streams, dealing with deductions, or trying to avoid costly errors, a professional can help make the process smoother and more accurate.
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With over 25 years of experience in accounting and financial management, I bring deep expertise and strategic insight to every client engagement. My background spans a variety of industries—including law, real estate, manufacturing, and energy. I have consistently delivered results through streamlined operations, cost-saving initiatives, and accurate financial reporting.
I am especially passionate about working with small business owners, who often need critical financial insights but lack the time to manage daily accounting tasks. I like to partner with these clients to implement practical, efficient solutions that support their growth and long-term success.