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Three Ways You Benefit From Offering a Retirement Savings Plan

Three Ways You Benefit From Offering a Retirement Savings Plan - TaxAct Blog

As a business owner, you know how challenging it can be to attract and retain talented employees.

What you may not know is that a retirement plan is among the most sought after benefits for American workers, second only to health insurance.

Three reasons to get started today:

  1. Offering a retirement plan helps attract and retain top talent. With pre-tax savings, your employees can make a positive impact to their paycheck now, while securing their future.
  2. The IRS pays you to save with credits and deductions for offering a retirement plan. If you just started offering a plan, your company may qualify for a business tax credit of up to $500 per year for the first three years of the plan, cutting the cost of your plan by as much as half.
  3. Your generosity will create savings. If you choose to include an employer match or profit-sharing contribution, you can deduct your share of the combined contribution limit of $53,000 per employee for 2016. That can add up to real savings for your business!

TaxAct has partnered with Ubiquity Retirement + Savings to help you take advantage of the tax benefits of offering a retirement plan. Plus, you’ll reduce next year’s taxes and increase your own retirement savings.

Ubiquity offers web-based retirement plans that you can have up and running for your business within minutes. Its online solution means easy maintenance, zero paper, and maximum tax savings for your business while empowering you and your employees in the future.

When you use TaxAct Business Editions (1065, 1120 or 1120S), you can request more information from Ubiquity while completing your return.

TaxAct Business maximizes all the deductions you are entitled to with a broad list of business expenses. It walks you through your taxes with easy interview questions. Start for free now or sign into your TaxAct Account.

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