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Written by Administrator
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Friday, 17 April 2009 20:02 |
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Federal legislation was enacted to encourage small- and medium-sized employers to start retirement savings plans for their employees. This legislation allows employers with fewer than 100 employees (at least one of which must be a unrelated, non-owner) to receive a 50% tax credit (up to $500 per year) for any expenses the employer bears to maintain a retirement plan. You can read more by clicking on this link: http://www.dol.gov/elaws/pwba/plans/final.asp. This federal income tax credit is in addition to the tax incentives available to lower-income workers as well as the deductibility of all employer expenses and optional contributions that might be made to the plan. Snap401k is not only an extremely affordable retirement solution for your small business, but the 401k incentives create an even greater value for entrepreneurs, small business owners, and their employees.
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