A small business employee retirement plan can be a smart way to provide for one of your key assets – your people – as well as benefiting you and your business. Whether you are self-employed, looking for a 401(k) for your small business or need a tailored IRA plan (SEP, SIMPLE, Keogh..), Kairos Insurance Services can help you create a forward-thinking retirement plan.
A quality retirement plan
- Help attract and retain valuable employees
- Reduce your company’s tax burden
- Allow you to invest money in your own retirement
Provide for your employees
As a business owner, you take care of your employees through salary, medical care options and paid vacation time. So, why not offer a retirement plan that will help them now and in their retirement years? You also may find that a retirement plan is an excellent tool for attracting and keeping valuable employees, as well as helping them attain a more financially sound future.
Reduce your tax bill
Establishing an employee retirement plan may offer tax benefits because:
- Employer contributions to retirement plans (and often plan expenses) are generally tax-deductible.
- Your business may be eligible for a tax credit for establishing a qualified retirement plan.
Invest in your own retirement
- Potential growth of your investment earnings that’s tax deferred until you take a withdrawal or distribution
- Reduction of your income tax bill – now or in the future (when retirement funds are withdrawn)
- Company matching of a portion of your contribution
As a business owner (even if you’re self-employed), you can usually invest more through a business retirement plan than through an IRA. Kairos Insurance Services can help you tailor a plan to suit the needs of your business.
Federal income tax laws are complex and subject to change. This information is based on current interpretations of the law and is not guaranteed. Neither the company nor its representatives give legal or tax advice. Please consult your attorney or tax advisor for answers to specific questions.
Insurance Services offered through Kairos Insurance Services, CA Insurance License #0H15005, a wholly owned subsidiary of Kairos Financial Group, Inc.