Editor's Note
As investors across the country watch their retirement funds
diminish in the current economic crisis, what roll are we as
financial advisors expected to perform? Is there a way to stick
our fingers in the dike and plug the leakage that seems to
plague retirement plan investments everywhere? Do we encourage
employees to sit tight and see what changes the market will
bring? Do we discuss changing retirement plan arrangements with
clients who are small business owners?
While many accountants think of themselves as reviewers after
the fact, these are the times when clients turn to us for
advice before things get worse. In particular, some of us may
find our clients blaming us for giving them advice to invest in
the first place. How are you weathering the storm? Add your
comments to this week's stories, or drop me a line and let me
know what type of retirement plan advice your firm is offering.
If you have written letters or articles on the subject of
retirement plans for small businesses, and would like to have
them considered for publication on AccountingWEB, send them
along - we'd be happy to share your information with our readers.
Best regards,
Gail Perry, CPA
Managing Editor
editor@accountingweb.com
Next Issue's Theme:
AccountingWEB's 2008 Tax Software Review
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Council urges Congress to consider 10-point plan to address retirement challenges
"The current economic turmoil has placed a strain on the
employer-sponsored retirement system," said American Benefits
Council President James A. Klein at a briefing for the news
media this week. "To ensure continued retirement security for
American workers and retirees, the Council proposes a ten-point
plan for immediate consideration by Congress."
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Solo 401(k) plans - great benefit for the sole proprietor
Solo-401(k) plans, designed for the sole proprietor, the
proprietor's spouse, and partnerships whose only employees are
self-employed partners and their spouses, are now permitted to
offer participants flexible savings accounts with an after-tax
Roth option as well as the traditional pre-tax option.
Individuals in the plans may direct their savings to both
accounts.
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