Empower Your Team: Choosing the Right Retirement Plan for Your Small Business with Employees

Small Business Tax Savings Podcast

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Are you leveraging the latest tax credits to provide the best retirement plans for your employees?

Hosts Mike Jesowshek and guest Matt Ruttenberg discuss retirement plan options for businesses with employees. The conversation highlights various types of retirement plans like SEP IRAs, SIMPLE IRAs, Safe Harbor 401(k)s, and traditional 401(k)s. They explore the benefits of these plans, particularly in light of recent tax credits and laws that make setting up these plans more advantageous. The episode emphasizes the importance of understanding one's business needs and goals to choose the right plan, stressing the consultative approach to retirement planning.

Discover how simple adjustments to your retirement planning could save you thousands in taxes and benefit your entire team by tuning in!

[00:00 - 06:15] Overview of Retirement Plan Options

• Mike introduces the topic of retirement plans for businesses with employees.
• He encourages listeners to refer to previous episodes for foundational knowledge.
• Matt details various retirement plans available, including SIMPLE and SEP IRAs, Safe Harbor, and traditional 401(k) plans.

[06:15 - 14:49] Deep Dive into Plan Features and Selection

• Matt explains how businesses can select appropriate plans based on their priorities and business goals.
• They discuss the role of tax credits in offsetting the costs of starting retirement plans.

[14:49 - 23:01] Final Thoughts and Listener Q&A

• Matt and Mike address common misconceptions about the complexity and cost of setting up retirement plans.
• They conclude with advice on consulting professionals to tailor retirement plans to specific business needs.

Direct Quotes:

"The vast amount of retirement plan options available should encourage every business owner to consider what's best for their situation." - Matt Ruttenberg

"Don't be afraid to reach out for help, as the right plan can significantly impact your business's and employees' futures." - Matt Ruttenberg

Connect with Matt Ruttenberg!

LinkedIn: https://www.linkedin.com/in/mattruttenberg/

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Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings Podcast

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