Benefits Pro

December 8, 2014

You might be thinking that it’s a little early to be talking about tax season. But everyone knows that when Santa’s coming down the chimney, the tax man is walking up the path to the door, figuratively speaking.

In that vein, a tip that could help you plan for retirement and save on taxes at the same time can’t be all bad. And that’s what’s in store for the small-business owner who opts for a solo 401(k) plan.

Surprisingly, there are more than 9 million small-business owners who have no retirement coverage, according to a recent U.S. Small Business Administration study.

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