Saving For Your Retirement

As a business owner, you can sponsor employee retirement plans on both a qualified and non-qualified basis. Each have their own advantages for you.

Qualified Plans

Contributions made to a qualified plan are paid with pre-tax dollars. In other words, the contributions are not currently taxable to the employee and are a deductible expense for the company. If you have employees who are eligible to receive a contribution under the plan, the tax-savings your company may receive could offset or even exceed the amount that would need to be contributed for employees each year. So which would you rather do? Pay the taxes to the government or help yourself and your employees save for retirement?

This information is not intended as tax or legal advice. Please consult with your attorney or accountant prior to acting upon any of the information concerning your own situation.

Click here to see qualified plan options

Non-Qualified Plans

If your business is a C corporation (set up so the income of the business is taxed, vs. an S corporation, partnership, or LLC where profit and loss is reflected on the personal tax returns of the individual shareholders), there are also plan options that can help you save for retirement without having to include all of your employees. These "non-qualified" plans may not offer a current income tax deduction for the business, but are extremely flexible and can be designed just for you, and maybe a few select employees.

Click here to see non-qualified plan options