Small companies, startups like yours, typically do not have retirements. Your could offer your employees...
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Small companies, startups like yours, typically do not have retirements. Your could offer your employees a Simple IRA or a 401K and they could contribute pretax dollars into the plan. In addition you as the employer might decide to match a portion of the employee's contribution to the plan. A typical match might be 100% of the employee's contribution up to 3%
If you make $1000 per pay check and contribute 3% ( $30 ) to the plan, the employer would also put in $30. Is the employer match a deductible business expense? What about the employee's contribution?
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