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Retirement Plans

There are many benefits to offering a retirement plan

The right plan can help you attract and retain top talent, while also providing the business with potential significant tax savings. With the many different plans that are offered, working with Stage Wealth Management will help you decide which plan is best for you and your business.

Traditional 401(k)

A retirement plan that allows employees to save a portion of their salary in a tax-advantaged manner. The money earned in a 401(k) Plan is not taxed until after the employee retires, at which time their income will typically be lower than during their working years.

Safe Harbor 401(k)

Unlike traditional 401k’s, a Safe Harbor Plan is where the employers are required to make contributions to their employees retirement plan. Employer contributions made as part of the Safe Harbor Plan design are tax-deductible, reducing the employer’s taxable income.

SIMPLE 401(k) plans

A plan designed with a company that has fewer than 100 employees. Provides pre‐tax retirement savings and easy administration

Solo 401(k) plans

For businesses with no common law employees, the business owner can contribute at the same limits as a traditional 401k

Roth 401k

These are funded on a post-tax basis, so that contributing to one won’t reduce your taxable income. But the growth is tax-free – as opposed to tax deferred – so that when you make withdrawals once you reach age 59.5, you will owe no taxes on your contributions or earnings

Profit sharing plans

Often added to a 401k giving the sponsor the discretion to contribute a total of 25% of eligible plan compensation. Contribution amounts can vary greatly among owners and eligible employees

Defined benefit plans

High income self-employed individuals, professionals, and small business owners can provide dramatic current year tax savings. It is common for someone above the age of 50 and making more than $300,000 each year to be able to contribute $150,000 to $250,000 to the defined benefit plan.

Sep IRA Plans

Self-employed persons can contribute up to 20% of their net self-employment earnings toward their own account without exceeding the 2021 contribution limit of 58,000.

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