RMC Group is thrilled to announce the launch of its new Tax Credit Calculator, which will help small business owners calculate their tax savings when starting a retirement plan for their employees. By taking advantage of the tax credits of SECURE 2.0, businesses now have unprecedented opportunities to maximize their savings when adopting a qualified retirement plan.
Key Features of the Tax Credit Calculator
- Start-Up Credit: Covers 100% of qualifying start-up costs for businesses with 50 or fewer employees and 50% for those with 51-100 employees, with a maximum credit of $5,000, for the first three years of a plan.
- Employer Match Contribution Credit: Available for the first five years of the plan, with decreasing percentages over time, starting at 100% for the first two years, capped at $1,000 per employee annually.
- Easy Claim Process: Businesses can claim these credits by filing IRS Form 8881 along with their tax returns. Learn more about Form 8881 here.
“We are very excited to introduce this tool,” said Tamara Middleton, VP of Retirement Planning at RMC Group. “We believe it will significantly benefit small business owners, making it easier for them to understand and utilize the tax credits available through SECURE 2.0. Our goal is to support businesses in planning a secure financial future for their employees while maximizing their savings.”
The Tax Credit Calculator is user-friendly and instantaneously calculates an employer’s SECURE 2.0 tax savings that offset the cost of starting a new plan. Business owners can access the calculator on the RMC Group website or right here and begin planning for a more secure and profitable future.
