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Episode 87: WHAT YOUR FIRST EMPLOYEE MEANS TO YOUR RETIREMENT PLAN
In this episode, we delve into the significance of hiring your first employee and its impact on your retirement plan. We discuss the benefits and features of a Solo 401K. Additionally, we address the question of when it may become necessary to shut down your Solo 401K. Furthermore, we examine the tax savings associated with a 401K plan for employees, highlighting the potential tax deductions and deferrals that can be obtained, providing valuable insights for entrepreneurs navigating retirement planning while expanding their workforce.
Episode Highlights:
What is a Solo 401K?
When do you need to shut down your Solo 401K?
What tax savings can you get for a 401K plan for employees?
Links:
Profit & Loss Template
Save Taxes: Free Consultation
Follow me: https://www.instagram.com/thepatdarby
#retirement #tax #savings
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By Patrick Darby
5
1919 ratings
In this episode, we delve into the significance of hiring your first employee and its impact on your retirement plan. We discuss the benefits and features of a Solo 401K. Additionally, we address the question of when it may become necessary to shut down your Solo 401K. Furthermore, we examine the tax savings associated with a 401K plan for employees, highlighting the potential tax deductions and deferrals that can be obtained, providing valuable insights for entrepreneurs navigating retirement planning while expanding their workforce.
Episode Highlights:
What is a Solo 401K?
When do you need to shut down your Solo 401K?
What tax savings can you get for a 401K plan for employees?
Links:
Profit & Loss Template
Save Taxes: Free Consultation
Follow me: https://www.instagram.com/thepatdarby
#retirement #tax #savings