If you’re a local business owner, you’re likely juggling growth, expenses, and your team’s needs, all while planning for your own future. A workplace retirement plan may be able to help with all of that, directly and indirectly.
For the business, employer contributions are tax-deductible, and as a participant in your company plan, your pretax salary deferrals are excluded from income taxes. Many plans even offer Roth options for tax-free withdrawals later. Your local business may also qualify for federal tax credits to offset startup and administrative costs, along with other expenses.
A retirement plan also can reduce risk. If you have your own net worth tied up in the business, your retirement may depend on a future sale. Building personal assets now adds flexibility and security.
And in today’s competitive labor market, strong benefits help attract and keep great employees.
Not sure where to start? A qualified financial advisor can guide you through options and help align your plan with your goals.
*This content was provided by Edward Jones for use by Linda Drake, your Edward Jones financial advisor, at (480) 985-2651. Member SIPC. Edward Jones, its employees, and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax