10 Strategies To Reduce Your Taxes - Tax Tip #7 Retirement Contributions
As a small business owner, you are completely responsible for your own retirement planning. If you have employees, you may feel responsible for helping them plan for a successful retirement. The considerations and retirement savings plans that work you, as a small business owner, should be paramount when planning for both your own retirement and that of your employees. It is never too late to consider last-minute strategies regarding retirement contributions to help you reduce your taxes for the year 2021. Whether it be SEP, 401k, SIMPLE IRA, or a Defined-Benefit Plan, we go over the importance of saving for retirement to explain the path your business can take for a retirement strategy. It seems complicated now, but we are here to simplify the process and define what each option is, as well as answer which best option fits you.
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