Supplemental Executive Retirement Plan (SERP)
$1805-$9025
Can You Write Off Supplemental Executive Retirement Plan?
Short answer: Supplemental Executive Retirement Plan (SERP) — Retirement Plans Advanced for Baby Boomer business owners
Advanced retirement plan contributions and administration costs are deductible business expenses. Defined benefit pension plans, cash balance plans, and 401(k) contributions are deductible under IRC §404. Actuarial fees, plan administration, and compliance costs are deductible. Employer contributions are deductible up to specific limits. Required minimum distributions (RMDs) must be taken after age 73. Professional planning fees may be deductible. Proper documentation and plan compliance required.
Records to keep: Keep receipts and document business use. Deductible if ordinary and necessary for your trade or business.
Supplemental Executive Retirement Plan (SERP)
Typical range: $1805-$9025
Multiple industries
Supplemental Executive Retirement Plan (SERP) — Retirement Plans Advanced for Baby Boomer business owners
Applies to
- Retirement
Business justification
Advanced retirement plan contributions and administration costs are deductible business expenses. Defined benefit pension plans, cash balance plans, and 401(k) contributions are deductible under IRC §404. Actuarial fees, plan administration, and compliance costs are deductible. Employer contributions are deductible up to specific limits. Required minimum distributions (RMDs) must be taken after age 73. Professional planning fees may be deductible. Proper documentation and plan compliance required.
Category
- Retirement Plans Advanced
- Employee Benefits & Retirement