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2017-11-26 Small Business Retirement Plans with Ed Fulbright On Mastering Your Money Radio

Small Business Retirement Plans

If you're self-employed or own a small business and you haven't established a retirement savings plan, what are you waiting for? A retirement plan can help you and your employees save for the future.

Tax advantages

A retirement plan can have significant tax advantages:

• Your contributions are deductible when made

• Your contributions aren't taxed to an employee until distributed from the plan

• Money in the retirement program grows tax deferred (or, in the case of Roth accounts,

potentially tax free)

What I discovered is the type of retirement plan selected usually must benefit the business owner significantly and the company/ business owner must have discretionary income.  In other words, you have more money than you have month.

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