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Small Business Retirement Plans | Richmond, KY

Welcome to another installment of Tax Alpha. We’re going to dive into how you can choose tax - savvy retirement plans for your small business. Get started exploring which retirement plan best fits your specific circumstances.

Small Business Retirement Plans can be a great tax saving strategy for small businesses. Once a business has made the great achievement of becoming profitable, you will quickly feel the impact of taxes. Small business retirement plans are unique because they create an opportunity for tax deductions, while the money is invested into tax favored investment accounts. These plans include, Simple IRA's, SEP IRA's, 401k, and Solo 401k plans. This is very different than a traditional tax deduction where money goes out of the business to pay for some expense, that usually depreciates in value or even has no value at all. It's a fantastic tax saving strategy for a small business.