Retirement Planning for Small Businesses

Better-Business-Retirement-Planning

Offering a retirement plan for your business can result in many potential benefits.  For most business owners recruiting the top talent is a challenge.  It can be increasingly difficult when you are competing against the compensation packages offered by some of the larger firms.  Providing retirement benefits for your employees can be that added bump that gives your company the edge, allowing you to hire the talent that you want.   Another critical element to running a successful business, is being able to retain that top talent.  Consider a profit sharing with a vesting schedule to help incentives your key employees for their years of service.  In addition to recruitment and retention there are number of other factors that can benefit you as the business owner.  Some of those benefits may included higher contribution limits, leading to a larger retirement nest egg for yourself.   Additional tax deductions may put you in a more advantageous tax situation.  You should get your CPA or tax advisor involved to ensure that your plan is designed to meet your needs.  There are many different plans and options when it comes to retirement planning for your business.  Consult your financial advisor to determine and design a plan that is best suited to meet your needs and objectives.  Download our Retirement Planning for Small Businesses article to learn more about some of the options available to you.

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