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Tax Credits

/Tax Credits

Up to $16,500 in Tax Credits for Small Business Retirement Plans

Up to $16,500 in Tax Credits for Small Business Retirement Plans Passed in 2020, SECURE Act has been one of the most comprehensive updates to retirement plans in more than a decade, and one of the major benefits is the Small Business Tax Credits component of the act. Companies with up to 100 employees can claim a tax credit to offset startup costs associated with establishing a new 401(k) plan.  Companies can get a tax credit of up to $5,000 per year