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re: Best small business retirement account contribution rate for President/ owners?
Posted on 1/8/24 at 7:07 pm to baldona
Posted on 1/8/24 at 7:07 pm to baldona
quote:
ETA: Finally found this online, so I can contribute after tax? I guess you get tax free growth, is there any other reason to do this into a retirement account?
After tax is great because you can potentially set up the plan for Roth rollover distributions of the after tax amount and each year. You can basically use it as more Roth contributions.
Also, the employer can contribute more than dollar for dollar. Rarely happens but it’s allowed.
This post was edited on 1/8/24 at 7:09 pm
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