5 Tax Benefits Small Businesses Should Take Before January 1st

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If you are considering offering a retirement plan for your employees, doing so before the end of the year could provide tax benefits.

Your business might be eligible for a $500 tax credit for the first three years of your plan to help defray setup costs.

In addition, any employer contributions to employee plans enjoy tax deductions, and a business owner can realize personal tax savings by contributing to a plan.