3 Ways Employers Benefit From Offering Retirement Plans – 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:
- 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.
- 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.
- 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!
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