Need to communicate better with Start Up Credits

Ary Rosenbaum - The Rosenbaum Law Firm P.C.
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Ary Rosenbaum - The Rosenbaum Law Firm P.C.

We live in a day and age where information is at our fingertips. Anything we want to know is just a Google search away. Yet many companies interested in starting a 401(k) plan are unaware of the tax credits offered for a plan startup.

According to a new survey, among the small business owners not offering a plan, 72% said they didn’t know about tax credits up to $5,000 being available to cover the costs of starting a 401(k) plan.

While potential plan sponsors can Google these tax credits, plan providers are clearly not doing a great job of letting these companies know that tax credits are available.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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