How to claim up to $1,000 per Employee Retirement Contributions Tax Credit

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Rob CPA | Personal Finance & Tax Planning

Rob CPA | Personal Finance & Tax Planning

Күн бұрын

In this video I will dissect the SECURE Act 2.0's provisions, spotlighting the new tax credits available for small businesses making employer contributions to retirement plans. This video is tailored for companies with under 100 employees, providing a detailed look at how to claim a tax credit of up to $1,000 per eligible employee-those earning less than $100,000 annually-for employer contributions to retirement plans. We'll guide you through the process of enhancing your employees' retirement benefits while securing tax benefits for your business. Don't miss the concluding segment, which reveals an extra bonus credit for businesses, further incentivizing the adoption of robust retirement plans. This video is an essential tool for small business owners aiming to leverage the SECURE Act 2.0 for the financial betterment of both their company and their employees.
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Rob CPA channel was created with a mission to provide viewers with accurate content so they can be proactive in their tax planning strategies and build financial wealth. The video topics I selected reflect real-world issues that I’ve seen our clients experience relating to their personal tax returns, retirement plans, and accounting.
The channel allows me to share my passion for taxes, personal finance, and accounting. I create content I wish schools and entrepreneurship programs/accelerators would teach their students and companies. I take complex topics and simplify them for the viewers as well as show examples.
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Пікірлер: 3
@user-vg5df2yp4x
@user-vg5df2yp4x 6 ай бұрын
Awesome content. Thank you for sharing this wealth of information. It was very interesting and very useful content. I’m pinning it to share!
@rob_cpa
@rob_cpa 5 ай бұрын
Glad you liked it.
@jdgieschen
@jdgieschen 8 ай бұрын
So, hypothetically, a company could make a $1,000 NEC to each employee immediately and get a tax credit for each of those, even if the employee opts out of Elective Deferrals, as long as the employee is eligible for the plan. In other words, if a company with 50 employees has a plan that allows for immediate eligibility for all employees, the company could contribute a total of $50,000 in NECs and thereby receive $50,000 in tax credit.
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