Local Business Owners: Don’t Overlook Retirement Plans
If you’re a local business owner, you’re likely juggling growth, expenses and your team’s needs, all while planning for your own future. A workplace retirement plan may be able to help with all of that, directly and indirectly.
For the business, employer contributions are tax-deductible, and as a participant in your company plan, your pretax salary deferrals are excluded from income taxes. Many plans even offer Roth options for tax-free withdrawals later. Your local business may also qualify for federal tax credits to offset startup and administrative costs, along with other expenses.
A retirement plan also can reduce risk. If you have your own net worth tied up in the business, your retirement may depend on a future sale. Building personal assets now adds flexibility and security.
And in today’s competitive labor market, strong benefits help attract and keep great employees.
Not sure where to start? A qualified financial advisor can guide you through options and help align your plan with your goals.
This content was provided by Edward Jones for use by Alan Bell, your Edward Jones financial advisor at 222 Great Road Suite 8 Littleton, MA 01460. 978-486-1059.
Member SIPC
Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation
For the business, employer contributions are tax-deductible, and as a participant in your company plan, your pretax salary deferrals are excluded from income taxes. Many plans even offer Roth options for tax-free withdrawals later. Your local business may also qualify for federal tax credits to offset startup and administrative costs, along with other expenses.
A retirement plan also can reduce risk. If you have your own net worth tied up in the business, your retirement may depend on a future sale. Building personal assets now adds flexibility and security.
And in today’s competitive labor market, strong benefits help attract and keep great employees.
Not sure where to start? A qualified financial advisor can guide you through options and help align your plan with your goals.
This content was provided by Edward Jones for use by Alan Bell, your Edward Jones financial advisor at 222 Great Road Suite 8 Littleton, MA 01460. 978-486-1059.
Member SIPC
Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation