Are you a business owner looking for additional 2020 deductions? Have you heard about qualified plans / retirement plans, and don’t even bother to look into them because they’re too complex? We’re here to help. Our three-part series will focus on case studies, showing you how we’ve designed unique plans for three different business owners, depending on their goals and objectives.

In this case study, we work with a business owner that has his team right where he wants them, and wanted a retention tool to keep them with him. He wanted to be able to provide an additional benefit to them, more than just giving them a bonus, and a SIMPLE 401(k) was perfect! The 401(k) portion allows the employees to contribute pre-tax to an IRA set up in their name, and the business is going to contribute a fixed 2% to all employees as a token of appreciation and value to them. With no administration costs going forward, and a straightforward, simple retirement plan, this is a win-win for the whole team! The plan will allow him to stand apart from his competition, which will help him attract top talent going forward, and retain the talent he currently has.

Want to hear details? Or think a plan may be right for you? Give us a call, and we’ll check it out!…(read more)

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