- There are minimal facilitation and start-up costs.
- Contributions are flexible and do not have to be the same every year.
- Contributions are tax-deductible up to 25 percent of an employee’s compensation.
- Self-employed individuals are considered employees so they can take advantage of these savings plans. However, employer/employee contributions can be complicated, so make sure you consult your tax advisor for clarification.
- All employees must receive the same benefits.
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