There are many types of benefits packages that a business can offer its employees. They may vary depending on the size of the company and what type of business it is, but one that is always a great option is defined benefit plans in Little Rock, AR.
Benefits Are Guaranteed
You can actually determine what your retirement funds will be with this type of plan. Since it is not dependent on how the investment performs, financial calculators can be used to determine your best investment amounts to reach your goal.
Taxes Are Reduced
A smart business owner will use the tax advantages that defined-benefit plans possess and use them to reduce their overall tax liability at the end of the year. This can be done by making substantial contributions to the plan at pre-determined times according to current tax laws.
Spouses Are Eligible
One fantastic benefit to these types of plans is that spouses are eligible as well, just as long as they are actual employees. This is one reason why defined benefit plans rules in Little Rock, AR, are incredibly popular among self-employed people. Their spouses can be named as employees, regardless of what amount they are paid, and the contributions can be doubled within the same family. This is highly effective for both reducing taxes at the end of the year as well as preparing for your retirement.
If you are interested in establishing such a plan for your business, contact Dale Brunk, CEBS, AIF at https://www.mylandmarkfinancial.com.
Securities offered through Avantax Investment Services℠, Member FINRA, SIPC. Investment advisory services offered through Avantax Advisory Services℠.
Insurance services offered through an Avantax affiliated insurance agency.