The Time To Act On Your future Is Now

 

Tooth Implant ProsAlthough this website is dedicated to saving money for retirement, we know, having been in the dental industry since 2012, that most dentists aren’t thinking that far into the future. In face, many of them think of retirement as an abstract concept. This is why so many dentists retire at such a late age in life. They never develop the discipline to grow their money while they are accumulating it, and by the time they reach their golden years, they are forced to keep working because they cannot maintain their current standard of living when they stop producing income.

Our group, known as the Tooth Implant Pros, works with dentists to help them grow their revenue by focusing on high value dental procedures; like implant dentistry for example. And even though our specialty is setting up online properties that local cosmetic dentists lease for a small fee every month, we do know a little something about growing a business from nothing to something. Our team has properties producing new patients in over 40 different cities throughout the United States; and we’re adding new cities every single week.

The people behind the scenes at our company understand that there is one really way to make sure you have enough nestled away in retirement funds when it’s time to shut the business down – and that is raising your income exponentially. Our team was interested in having a nest egg, but they weren’t interested in giving up portions of their life they liked. They didn’t want to save on getting Frapuccino’s from Starbucks, or spending $20 for a lunch at a local eatery. They wanted to save money while not giving up their current quality of life. That’s what we suggest all business owners focus on first – especially dentists.

Learn how to scale your current business, past what you thought was possible. This means you need to get out of your comfort zone to pull this over. Some people cam make this leap, others never will. You need to decide what’s more important to you – living a fantastic quality of life in your later years, free of worrying about financial obstacles, or allowing your fear of the unknown to cause you to cower in the corners of your mind.

That choice is entirely up to you. One of our partners at the Tooth Implant Pros of Brooklyn took the bulls by the horn and decided he wasn’t going to wait for that to happen. He began an aggressive marketing campaign, and his practice is thriving right now. Yours could be as well. Now is the time to take action . . . not time to think about thinking about it.

Retirement Plans For Micro Businesses

You can have more savings and pay lower taxes by understanding your alternatives
Being an owner of a small business like Towpedition,towing san antonio service,contractor,it consultant or any small business, maybe you’re busy with business activities such as business planning and budgeting. Saving for your retirement should also be your responsibility.

There are various types of retirement plans that you can choose from for an ideal plan for your business. However, the alternatives can be confusing. Some are ideal for single business owners while others are perfect for businesses with a maximum of 100 employees.

A small-business owner can choose from the following types of retirement plans:
1. Self-Employed 401(k) plan
2. Simplified Employee Pension Plan (SEP IRA)
3. Savings Incentive Match Plan for Employees (SIMPLE IRA)
4. 401(k) plan (deal for big companies)

The first three are the most suitable for small businesses with a maximum of ten employees. We will focus on the three. Each of these plans has unique features such as employee coverage ability as well as the maximum and minimum contributions, among others. You need to analyze and match the features of these plans to your priorities to choose the ideal plan.

Choosing a plan which doesn’t address your business needs may lead to loss of tax benefits or even making of wrong employee contributions.

Reasons for having a small-business retirement plan
The need to have a retirement plan for small businesses is paramount since:
• It helps you and your employees secure your future
• It helps your business attract and retain good employees
• Plan contributions for business owners become part of business expenses thus probable tax benefits

Evaluate your Options

You may get certain tax benefits from each of the three retirement plans such as:
• Potential growth of your contributions without reduction by current taxes
• The ability to make employer contribution in the form of an expense to the business
• If you are offering the plan for the first time, you can get a maximum of $500 tax credit for each plan’s initial subscription and maintenance expenses during the first three years.

Some of these plans cover employees while others don’t. The contributions are also made by different people in each plan. This is where the differences in the plans come in.

• A SEP IRA covers self-employed individuals and owners of small enterprises with any number of employees. The employer solely makes the contributions and they are treated as business expenses, thus tax-deductible.
• A SIMPLE IRA covers businesses with a maximum of 100 employees. The employers and the employees make the contributions as tax-deductible contributions and pre-tax contributions respectively
• A Self-Employed 401(k) plan is ideal for sole proprietors who don’t have any other employee apart from their spouses. This plan has tax-differed contributions and its contribution limits are the best as compared to the rest.

Matching a retirement plan to your business needs

Always consider your priorities while analyzing particular features of each plan since you will have to compromise when choosing.

You may consider some of these essential factors when choosing the ideal retirement plan for your business:
1. Employee coverage
2. The contribution amount and the person responsible for making them
3. Cost and nature of administration of the plans

To sum up everything, if you know what you’re to achieve with a retirement plan, it may be straightforward to arrive to a plan that is perfect for your business. That said, knowing what you need ahead of time is a major component because each plan has its disadvantages and advantages.

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