The CARES Act and Early Retirement Withdrawals

The Coronavirus Aid, Relief, and Economic Security Act, Pub. L. No. 116-136 (CARES Act), provides relief to eligible individuals taking withdrawals or loans from qualified employer retirement plans and Individual Retirement Arrangements (IRAs). Coronavirus-related withdrawals and loans Individuals may be eligible for coronavirus-related relief on withdrawals from qualified employer retirement plans or IRAs and on…

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4 Basics of 401(k) Plans Employees Need to Know

401(k) plans have become the most popular form of employer-sponsored retirement saving. Pensions have slowly dwindled in usage, making 401(k)s the most dominant way to save. These plans are highly prosperous as there are benefits for both employers and employees. If done well, each party will save money on taxes. However, the possibility that the…

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The Self-Employed: The Vision and Preparation for Retirement

The self-employed community plays a pivotal role in the economies of nations. The changing patterns of employment have changed how people work and how they save, invest, and prepare for their retirement. Growth of the Self-Employed Economy The self-employed economy, including freelancers, contractors, small business owners, and sole proprietors, is growing fast, especially in the…

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5 Hints It Might Be Time to Sell Your Business

After putting the time, effort and money into opening your business, selling it can be a difficult decision to make. And yet, every year, thousands of the 30.7 million businesses in the U.S. are sold. For some business owners, selling can pave the way to new opportunities or a decrease in stress. Others, like the…

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Offering Retirement Plans for Your Employees

The number of small businesses operating in the US is growing fast. Small businesses employ 47.5% of American private-sector workers, and that number keeps increasing as more people move away from corporate life. Although small businesses are popping up on every corner, they still face challenges from tight budgets and sparse resources. With that comes the need…

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Tax Deductions for Small Business Owners

If you own a small business, you know that every dollar can be important to the success of your business. One way to improve your odds for success is to make sure that you are taking all the tax deductions you’re entitled to. Especially if you’re just starting your business, you will want to claim…

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The Types of Small Business Retirement Plans

Small business retirement plans come in a number of different shapes and sizes. Some are easy to set up and use, while others offer scalability and flexibility. Whether you’re a sole proprietor or have hundreds of employees, there’s a retirement plan to suit your specific needs. Here are the four main types: Self-employed 401(k) If…

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4 Tips on Retirement Planning for Small Business Owners

Are your retirement plans in order? If not, we invite you to consider these 4 tips on retirement planning for small business owners: Don’t Let Your Business Be Your Only Retirement Plan CNBC reports on a survey with results indicating that 78 percent of the polled business owners had plans to fund their retirement by…

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The Importance of Pensions to SMEs

For SMEs to remain competitive in the current economic climate, it’s imperative that they’re able to retain and recruit the best possible talent. This can be challenging, however, particularly with small businesses being relentlessly squeezed by soaring inflation, declining consumer confidence and incrementally higher interest rates. While fintech innovations such as P2P lending and invoice…

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