Sharebuilder 401k Celebrates Holidays With Gift To Business Owners, Announces Free Set-up On All Of Its 401(k) Plans December 1 - 22
Businesses That Start a New Plan Can Save Up To $995, Make Significant Tax Saving Contributions and Attract and Retain Employees Too
SEATTLE, Dec. 1, 2021 /PRNewswire/ -- While December is best-known as the season of giving, ShareBuilder 401k also sees it as a perfect time for businesses of any size to start saving – for both retirement and this April's tax bill. And with more employees switching jobs in a tight job market, 401(k) benefits can be a differentiator in attracting and retaining top talent.
Through December 22, ShareBuilder 401k, a leading provider of low-cost retirement plans, is waiving set-up fees on all of its 401(k) plans -- fees that normally run between $150 for a self-employed business owner opening a Solo 401(k) and $495 to $995 for businesses with multiple employees.
"While many small businesses don't currently offer 401(k) benefits, 401(k)s offer significant tax and saving benefits that can also help in recruiting and retaining talent," said Stuart Robertson, CEO and President of ShareBuilder 401k. "With access to Roth, penalty-free loans, vesting options and new contribution limits of $19,500 in 2021, 401(k)s help business owners and their employees build meaningful nest eggs while better managing taxes."
At a time of year when business owners are scrambling to close out their 2021 books, contributions to a 401(k) plan also offer tax relief. In fact, every business owner and employee have the option of contributing up to $19,500 to their account by December 31 – and those over 50 can add an additional $6,500 in catch-up contributions.
Plans that are set-up in December can also include an initial 401(k) contribution from the business owner -- be it a match or profit share -- enabling them to not only provide an important employee benefit for years to come, but to also say 'happy holidays' in 2021. These employer contributions are tax deductible too.
To help business owners better understand the tax benefits of starting a 401(k) plan, ShareBuilder 401k has issued "Top Tax Reasons to Start a 401(k)" to show, for example, how an employee, like an owner, has the ability to contribute and receive up to $58,000 pre-tax in 2021. In fact, for Solo 401(k)s, the self-employed person serves as both the employer and employee. The owner can make up to $19,500 in contributions as an employee and add another 20 to 25 percent of earnings based on their business type (up to the 2021 limit). As long as the plan is installed by the IRS' December 31st deadline, the owner has until their tax deadline (April 15, 2022 for most) to make employer contributions.
For additional information on the promotion, visit 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 6500 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 further expanding access to retirement plans and leading more Americans to save through cutting-edge technology, low costs and quality education and support.
FOR MORE INFORMATION: Dan Branley, [email protected] , 206.914.1231
SOURCE ShareBuilder 401k
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