Small Business Owners Can Maximize Their 2023 Tax Breaks with Free 401(k) Setup for a Limited Time
SEATTLE, April 25, 2023 /PRNewswire/ — As this year’s tax season ends, many small business owners are seeking new ways to lower expenses and save on taxes. A 401(k) can provide some tax relief and can be inexpensive too especially with new tax credits. To help more small businesses start a 401(k) plan, ShareBuilder 401k is offering free setup from April 25 through May 16, 2023.
401(k) plans offer many tax credits and deductions to help small businesses lessen their tax burdens, thanks to the Secure Act 2.0. Passed in 2022, Secure Act 2.0 eliminates almost all cost barriers for small businesses starting 401(k) plans. Businesses with fewer than 50 employees could be eligible for tax credits of up to $5,000 toward 401(k) costs for the first three years. The tangible financial benefits of these savings, as well as the competitive advantage gained by offering retirement plans to employees, can be substantial for small business owners.
ShareBuilder 401k’s limited-time offer allows self-employed business owners to receive up to $150 savings in setup costs, while businesses with employees stand to save as much as $750. These savings are in addition to those already provided by Secure Act 2.0.
The goal, said Stuart Robertson, President and CEO of ShareBuilder 401k, is to make retirement plans accessible for small businesses of any size — including the self-employed.
“Too many small business owners believe 401(k) plans are out of reach. When we look at the numbers, nearly half of America’s workforce is employed by small businesses, but less than one-quarter of these companies offer retirement plans. We hope to help fix this disparity by making it free and easy to get set up with a 401(k).”
More information on ShareBuilder 401k’s promotion can be found at www.sharebuilder401k.com.
About ShareBuilder 401k
ShareBuilder 401k is a leading digital 401(k) provider specializing in low-cost, all-ETF retirement products and resources for small- to mid-sized companies, including owner-only businesses. Founded in 2005, and now serving more than 6,500 businesses across the US, ShareBuilder 401k is a pioneer of the index-based 401(k), digital quoting and purchasing of retirement plans, and providing investment management (ERISA 3(38)) services for every client’s fund roster. ShareBuilder 401k is committed to expanding access to retirement plans and leading more Americans to save through cutting-edge technology, low costs and quality education and support.
SOURCE ShareBuilder 401k
Originally published at https://www.prnewswire.com/news-releases/sharebuilder-401k-helps-americans-save-for-retirement-with-free-setup-on-new-401k-plans-from-april-25-to-may-16-301807441.html
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