Save twice on a new 401(k)

Tylerworgan93009 Jan, 2022Business

In order to help small businesses save on taxes, there are two major tax credits in the SECURE Act for small business owners totaling up to $16,500 over three years. There are two major tax credits in the SECURE Act for small business owners totaling up to $16,500 over three years. Businesses that open a new liability-only Secure 401(k) are eligible for up to $14,000 of this tax credit over three years, with each of the next two years receiving a $4,500 credit.