Planning for retirement as a small business owner requires a bit more strategy than employees who earn a fixed income and have fixed expenses. Income and expenses can fluctuate, and your bottom line is directly impacted by the economy at large. Yes, it can be more challenging to plan with...
As a business owner, planning for your retirement is essential. Implementing a retirement plan not only enhances your retirement savings but also strengthens your business. Retirement plans can be designed to maximize benefits for business owners and help the business grow. While ...
If you haven’t yet started a 401(k) plan for your business, now may be a great time to consider one. A new 401(k) offers many tax benefits for you and your business. Plus, it can help you attract and retain your best employees. With the passage of SECURE 2.0 in December 2022, ...
1 Many smaller companies opt for SEP IRAs because they are cost-effective and relatively simple to run while still allowing the business owner to help their employees save for retirement. In this plan, business owners can make contributions to IRAs they set up for themselves and their employees...
the intention of the legislature was to liberalize and modify many of the plan rules making the plans more attractive especially to small, self-employed business owners. The basic approach taken by Congress was to put the self-employed retirement plans on parity with much more generous corporate ...
“By partnering our services, we can provide a streamlined solution that empowers employees to make decisions about consumer-driven healthcare creating a long-term plan for retirement savings.” Jon K. “We are starting a small business retirement plan and Ubiquity has been excellent helping us ...
“By partnering our services, we can provide a streamlined solution that empowers employees to make decisions about consumer-driven healthcare creating a long-term plan for retirement savings.” Jon K. “We are starting a small business retirement plan and Ubiquity has been excellent helping us ...
When it comes to planning for the future, there's no shortage of small business owner retirement options. It's important to know the pros and cons of each plan so that you can decide which is right for you. Here are three of the most popular retirement plans for small businesses: Solo...
As an owner of a business, you are likely also going to be eligible to contribute to your business’s retirement plan. This can save you substantially on your personal tax bill, similarly to how the mechanics work for employees. You can also simultaneously decrease the taxable income of your...
As the business owner, you can also opt in to the plan yourself. In addition to saving for your future, if you’re making contributions into the 401(k) plan for yourself, you can match your own contributions should you choose to match employees’ 401(k) contributions up to a certain pe...