Do you want to set up a retirement plan for your employees?
What is a 401K?
A 401K (named after a section of the federal tax code) is an employer
The plan is generally funded with employees' before-tax income
contributions and often time with matching contributions made by the
Employee contributions and employer contributions, if any, and any
growth in the 401K are tax deferred until the money is withdrawn. Once
money is in a 401K, withdrawals cannot be made prior to age 59 1/2
except for special circumstances.
Employee contributions are usually made pre-tax, which means the
employee is not subject to federal income tax on the employee's
contributions until the money is withdrawn from the 401K, typically at
retirement. Contributions are subject to Social Security and Medicare