Small business retirement planning tailored to your needs
Outside of providing you with our recommendations on the best small business retirement plan for your needs, our advisors at Avidian Wealth Solutions are well equipped to assist you in determining factors such as:
- How much your business is able to contribute as the employer
- How much you’ll be able to contribute as an employee
- Tax implications
In addition, we can help you to compare the contribution limits, fees, tax deductions, early withdrawal penalties, and flexibility in investment choices for each type of retirement plan.
And because we offer financial solutions outside of retirement planning, we can also assist you with other aspects of your financial plan, including business succession planning, helping to set various aspects of your business up for whatever comes.
Consider the potential risks of each plan
As a business owner, you’re likely accustomed to risk. Although there is no way to prevent it, there are steps you can take to prepare for it. When selecting a business retirement plan, it’s wise to weigh the risks of each option and establish protective measures when available to protect the retirement you’ve worked so hard to achieve.
Avidian Wealth Solutions can help you do just that. We incorporate risk management into each stage of your retirement planning so that no corner of your finances is left unplanned. We will work with you to consider the risks of each type of retirement plan on both a personal and professional financial level, working to protect your retirement income and help you determine the safest place for retirement money.
Optimize your tax-saving strategies
Regardless of which business retirement plan you choose, each option offers varying tax advantages to both you as the employer and your employees. Certain accounts, such as the traditional 401(k), allow you to make contributions with your pre-taxed dollars and require IRS filing. Whereas others, like the SEP-IRA and the Simple IRA, are funded with post-taxed dollars and do not require IRS filing.
Avidian Wealth Solutions can help you evaluate tax laws such as these and understand their effect on your business’s total financial planning. From there, we can offer recommendations on the steps you can take to make the most of your hard-earned dollars come tax season. We are also able to combine your retirement planning with your tax planning in Houston to help you choose the retirement plan that will offer you the most tax savings.