If you participate in a 401(k), you’re among the millions who utilize this option for retirement planning. These plans are great for socking away pretax dollars to fund your lifestyle once you leave your job. There are tax benefits, as well as the potential to fund your entire retirement without the help of Social Security. However, 401(k)s aren’t just good for employees. With proper planning a 401(k) can be an excellent benefit for a business owner as well.
We recently met with a small business client, who produces around $2.5 million in gross revenue a year, and their CPA.
