The best planning tool available to the owner of a small business is the retirement plan. The retirement plan allows you to make pre-tax contributions to the plan. Contributions are based on your annual earned income. Interest and gains earned by the funds inside the plan are tax free as well. When you start taking money out of the plan at retirement, all funds that you withdraw are taxable at that point in time.
There are several types of plans available. Some plans allow you to make minimal contributions for employees and contributions limits vary based upon the type of plan you chose. We can help you select the type of plan that best fits your needs. We can set that plan up with a no load mutual fund company so there are no fees paid for contributions to the plan.
