In a competitive North Texas market, a robust retirement plan is a strategic advantage for lowering your tax bill and retaining top talent in the DFW metroplex. Whether you’re a solopreneur near Main Street or scaling a team near Lake Grapevine, here are some commonly used Plan options that could meet the needs of your business.
Which Plan Fits Your Business?
With several plan providers across the DFW area, there are some that offer Solo 401(k)s and SEP IRAs with no setup costs or maintenance fees. And, as an added benefit, some provide 24/7 customer support to offer more flexibility to owners needing assistance outside of “normal” business hours. It’s important to compare all options before making a decision.
Under the SECURE 2.0 Act, Grapevine businesses may be eligible for a 100% tax credit for startup costs (up to $5,000/year for 3 years). However, timing is everything.
To keep your business compliant with Texas and federal tax deadlines, these are key 2026 dates to keep in mind when starting a retirement plan for your company:
| Date | Deadline Description | Plan Type |
| March 16, 2026 | 2025 Contribution Deadline (No Extension) | S-Corps & Partnerships |
| April 15, 2026 | 2025 Contribution Deadline (No Extension) | Sole Proprietors & C-Corps |
| October 1, 2026 | Last day to set up a new plan for 2026 | SIMPLE IRA |
| October 15, 2026 | 2025 Final Funding Deadline (With Extension) | SEP IRA & Solo 401(k) |
| Dec 31, 2026 | Last day to establish plan for 2026 deferrals | Solo 401(k) |
Getting everything squared away before the (extended) October 15, 2026 tax deadline requires some up-front preparation, especially for plans that take 30–45 days to implement.
To get started, here is a general timeline of actions that need to be completed before October 15th:
Phase 1: Decision & Design (ASAP)
- Benchmark Your Current Revenue: Meet with your advisor to estimate your 2026 net business income. This determines your maximum “headroom” for contributions.
- Select Your Plan Type:
- If you have no staff: Choose between a Solo 401(k) for high deferrals or a SEP IRA for simplicity.
- If you have a team: Choose a Safe Harbor 401(k) (if you want to max out personally) or a SIMPLE IRA (for lower costs)
- Review Entity Deadlines:
- September 15, 2026: Final deadline for S-Corps and Partnerships on extension.
- October 1, 2026: Absolute last day to establish a new SIMPLE IRA for 2026.
- October 15, 2026: Final deadline for Sole Proprietors and C-Corps on extension.
Phase 2: Execution & Compliance (By mid-September)
- Adopt the Written Plan Document: Sign your plan adoption agreement. You must have a written document in place before making any 2026 contributions.
- Notify Employees (If applicable): If launching a team plan, you must distribute required notices (like the Safe Harbor or SIMPLE IRA notice) to your employees.
- Open the Investment Accounts: Establish the actual brokerage or trust accounts to hold the funds.
Phase 3: Funding (By your tax deadline)
- Deposit Employer Contributions: Move the cash for your 2026 profit-sharing or matching contributions. To count for the 2026 tax year, these must be deposited by your return filing date (including extensions).
- Claim Your Startup Tax Credits: Work with your tax pro to claim the SECURE 2.0 credits (up to $5,000/year) for your new plan’s setup costs.
- Verify “Roth Catch-Up” Compliance: If you earned over $145,000 in 2025, ensure your catch-up contributions are designated as Roth as required starting this year.
In our competitive North Texas market, a retirement plan is more than a benefit—it’s a strategy to lower your tax bill and keep your best people from moving to larger firms in Dallas or Fort Worth. Choosing a plan is only the first step. Ensuring it is optimized for your specific tax bracket and business structure is where we come in.
At Mills Wealth Advisors, we specialize in helping local business owners navigate these choices. We act as your ERISA 3(38) fiduciary, taking responsibility for fund selection and plan design so you can stay focused on running your business. Located just down the road in Southlake, we understand the unique economic landscape of the 114 corridor and can help guide you through the process of starting your company’s plan.