Setting Up Your 401(k) 📈 #taxes #entrepreneur #401k

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Setting Up Your 401(k) 📈


#retirement #retirementsavings #taxes #scorporation #taxwriteoff #taxdeductions #wealth #wealthbuilding #taxes #entrepreneur #taxsavings #slashtaxes #businessowners #taxadvisory #taxwriteoffs #tax #businessowner #smallbusiness #smallbusinessowner #selfemployed #taxstrategy #experttaxadvice #taxadvice #taxexpert #taxprofessional #taxtipsandtricks #entrepreneurship #entrepreneurlife @borismusheyevcpa
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Hey Everyone, Boris here. Make sure you check out these links.

🆓 Download FREE PDF: 7 Write-Offs Every S-Corporation Business Owner MUST Know - www.7TaxWriteOffs.com

☎️ Schedule your FREE Tax Advisory Session - www.TaxPlanningCall.com

borismusheyevcpa
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This is too blanket of Advise to follow. I love this channel and get a lot of good info from it, but as a Financial Planner, Estate and Trust planner, and Enrolled Agent tax advisor, I have thousands of clients and hundreds of them own businesses. I have set up Safe Harbor 401ks and non-safe Harbor 401ks. You have to see what the owners goals are to make the best decision for that business. For example, here in CA a business with 5 or more employees is required to offer a retirement plan. If the owners don’t want to contribute to it personally, and don’t want to increase their costs by having forced matches, then a standard non-safe harbor plan is absolutely their best option. In my case, I have a safe harbor because I want to max it out for both me and my wife. I don’t want to be limited to 2% above the average of my employees or to less than 50% of plan assets, so I have a safe harbor. You have to look at each specific situation vs. saying that “X is always wrong”. That’s rarely the case with anything financial.

R_Jon