Significant tax credits are available for small businesses that can offset the total cost of your small business 401(k) plan.
As an example, a small business with 20 employees could receive up to $116,500 over five years with a new 401(k) plan that fully takes advantage of available tax credits.
These charts are provided for illustrative purposes only and it should not be relied on for any specific purpose and no representation or warranty is given as regards their accuracy or completeness. Sallus Retirement and their respective affiliates do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.
Helps cover 401(k) startup costs when a business chooses to offer one for the first time
Available when your employees are automatically enrolled in the plan
Subsidizes 401(k) contributions you choose to make on your employees’ behalf
An Individual Retirement Account (IRA) is a common way business owners save for retirement. You can save 3 to 8 times more in a 401(k) plan annually.
Finding and retaining the people you need to be successful is always a challenge. Offer a great 401(k) and help make talent join and grow with your business.
If you are interested in working with a financial advisor, Sallus can match you with one of our trusted advisors to help you join the Sallus business 401(k) community.
