Local Business Owners: Don’t Overlook Retirement Plans

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 can also 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 article was written by Edward Jones for use by your local Edward Jones Financial Advisor.

Edward Jones, Member SIPC