Small business owners have different opportunities to save for retirement. A properly designed retirement plan can allow small business owners to get a larger tax deduction than just making an IRA contribution. The key is implementing a plan that fits.
Recommending the proper retirement plan hinges on several factors. It depends on the size of the company, the amount of the contribution the owners wish to make on their own behalf, and the amount of the contribution the owners wish to make on behalf of their employees. The administrative costs should also be reasonable for what the plan is trying to accomplish.
Different types of plans have different provisions. Click on the links to see an overview of the primary types of retirement plans.
Other Plans (including Profit Sharing, SEP, Money Purchase, Roth provisions, and Cross tested plans)
If you would like to learn more about how a retirement plan could be a good fit for your business, please fill out the form below, or give Neal or Jim a call at 373-4877 or (800) 860-4871.