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Use Tax Credits to Lower Retirement Plan Start-Up Costs

Use Tax Credits to Lower Retirement Plan Start-Up Costs

January 29, 2024

Did you know you may be able to offset the start-up costs of a retirement plan for your business with a plan startup tax credit? This new provision of the tax code was designed to help businesses with up to 50 employees help their employees secure their retirement.

Your business may be eligible if you have:

  • 50 or fewer employees who earned at least $5,000 in compensation the prior year;
  • At least one participant who was a non-highly compensated employee;
  • No plan in the last three years prior to establishing a new plan.

Talk to us today about how we may be able to maximize start-up tax credits for a retirement plan while reducing your administrative tasks and mitigating fiduciary risk.

For a comprehensive review of your personal situation, always consult with a tax or legal advisor. Cetera representatives may not give legal or tax advice.

This material was developed and prepared by a third party for use by your Registered Representative. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security. The content is developed from sources believed to be providing accurate information.

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