Business owners and self-employed individuals with extended 2025 federal income tax returns may still have an opportunity to reduce their 2025 federal income tax liability. If you extended your tax return, you can make deductible 2025 employer contributions to certain retirement plans until the Oct. 15, 2026, extended deadline. If you don’t already have a plan, you can set one up by then and make 2025 contributions. Common options include defined contribution plans (such as profit-sharing or Simplified Employee Pension plans) and defined benefit pension plans. But generally, any eligible employees must also be allowed to participate. Contact us before the Oct. 15 deadline to learn more.
