When it comes to offering employee retirement benefits, most business owners think about attraction and retention. But a well-structured plan also delivers another powerful advantage: tax savings. The right retirement plan strategy can lower your company’s taxable income, reduce your personal tax burden, and allow you to save more efficiently for the future. That’s where […]
Company pensions are often categorized as defined benefit (DB) or defined contribution (DC). A defined benefit plan states the specific benefit that a retiree will get. The calculation accounts for certain factors like how many years an employee has worked and the salary received, which dictates the pension one will get. A defined contribution plan […]
Employers who offer retirement contributions are seen as more reputable and often have a better relationship with their employees. For rewarding their employees, businesses can get tax deductions from the government. But just like with most things related to the IRS, there’s some red tape surrounding contributions and deductibles. These things can get tricky, but […]
