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.
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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