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Planning Process for Companies

Small business owners face a different set of challenges when it comes to planning for their own retirement, as well as for the retirement of their employees. Having a qualified retirement plan for your small business rewards your employees by giving them ownership in a measurable success of the business. For this reason, you can attract and retain quality talent by offering tax-qualified retirement plans to your employees. There are several different types of qualified retirement plans to choose from. Each has its own benefits and pitfalls depending on your company’s unique situation. Noble Wealth Management can help you assess your small business’ needs and select the right qualified retirement accounts for your needs. We assist companies of various sizes, across all industries, around Kennewick, WA as well as the surrounding areas.

Noble Wealth Management is an independent financial and wealth management firm with more than 30 years of experience. We help individuals, families, and businesses plan for the future. Why should you consider offering retirement plans to your employees?

  • Save for your own retirement
  • Motivate employee productivity with profit-based, tax-qualified retirement plan accounts
  • Recruit high-quality employees by offering competitive retirement benefits
  • Receive significant tax advantages

Do you want to go through your options with a qualified professional and set your company up with a retirement plan? Contact Noble Wealth Management today. We can guide you in making the right decisions and help you set up and manage your retirement plan. Call (509) 735-9000 or fill out our online contact form in order to get in touch with an expert. We’re looking forward to meeting you and helping your business plan for the future.

Qualified Retirement Plan Types

Qualified Retirement Plan Types

There are several different types of tax-qualified retirement plans that you can offer yourself and your employees as a business owner near Kennewick, WA. These are a few of the most common:

  • Simplified Employee Pension Individual Retirement Arrangement (SEP IRA): These plans are available to self-employed people and businesses with any number of employees. The employer makes contributions, which they then deduct from taxes as a business expense.
  • Simple IRA: These plans are for businesses with 100 employees or fewer. Both the employer and employee contribute to these tax-qualified retirement plans. The employer’s contributions are tax-deductible and the employee’s contributions are tax-deferred, as they would be in a standard 401(k) plan.
  • Self-Employed 401(k): These are tax-deferred, qualified retirement accounts for self-employed people who do not have common law employees (employees who do not have ownership equity).

If it’s just you, or you and a partner, and you don’t expect to take on more employees in the future, a Self-Employed 401(k) will probably suit your needs the best. If you have employees or plan to in the future, you will most likely end up choosing between SEP IRAs and Simple IRAs. The decision really depends on how you want to contribute to the accounts. Contact Noble Wealth Management today to find out which qualified retirement plan type makes the most sense for your business. Once you decide, we can help you with setting up and maintaining your plans.

What Benefits Come With A Tax-Qualifies Retirement Plan

What Benefits Come With A Tax-Qualifies Retirement Plan

  • Your retirement plan helps to secure your financial future, as well as your employees’
  • By offering a tax-qualified retirement plan, you make your company competitive when it comes to attracting and retaining quality employees
  • You may receive tax benefits from offering a plan because contributions are deductible as a business expense.

We assist businesses in Kennewick, WA and the surrounding towns. Call (509) 735-9000 to speak with a retirement planning expert and find out what your business should do to prepare for the future.

About

With 27 years of experience and the knowledge to help you with a variety of aspects of your financial future, Noble Wealth Management in Kennewick is home to the expert you need in your monetary corner. We work hard to provide you with the latest industry knowledge so you can rest easy knowing you’ve got a qualified advisor helping you make fiscally sound decisions.

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