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New business? It’s a good time to start a retirement plan
November 1, 2020
Categories: Business, Retirement, Tax
If you recently launched a business, you may want to set up a tax-favored retirement plan for yourself and your employees. There are several types of qualified plans that are eligible for these tax advantages: • A current deduction from income to the employer for contributions to the plan, • Tax-free buildup of the value of plan investments, and • The deferral of income (augmented by investment earnings) to employees until