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re: Best small business retirement account contribution rate for President/ owners?
Posted on 1/5/24 at 8:54 pm to baldona
Posted on 1/5/24 at 8:54 pm to baldona
quote:
Employer contributions are 25% of pre tax pay though right?
Yes, you (the business) want to deduct them.
I had a SEP back in the day and my tax lady said it was only of the W-2
I do know the SIMPLE match is only 3%. There's some other silly rule I've never seen anyone use not worth explaining, but it's lower.
Yeah, you got the math right. Other option is to fire everybody that makes it to three years.
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