Thinking about adoping a retirement plan for your employees? Here’s something to consider…
Small employers who adopt a pension plan for employees may be eligible for a tax credit to cover startup costs.
Under Section 45E of the Internal Revenue Code, an employer that adopts a new plan covering at least one non-highly compensated employee (“HCE”) can take up to a $500 credit (50% of first $1,000) for each of the retirement plan’s first three years of operation for startup and administration costs of the plan.
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