Business 401(k) Services / Retirement Plan Options
Profit Sharing Plans for Small Businesses
Learn how to maximize your Profit Sharing Plan to reduce plan costs and capture more tax savings.
Profit Sharing Plans for Small Businesses
Profit Sharing is a type of employer contribution that can be utilized within a 401(k) plan to help business owners maximize their tax benefits in the plan and reward employees. Learn how to maximize your Profit Sharing Plan to reduce plan costs and capture more tax savings by downloading the guide.
- What is Profit Sharing- Profit sharing plans are a special kind of retirement plan that allow employers to make contributions to employees' accounts based on company profitability.
- Why is Profit Sharing Important- Adding a Profit Sharing provision to the 401(k) plan allows the business owner to contribute up to $76,500 per year, compared to only $30,500 with a 401(k) plan alone.1 This strategy allows the business owner to put away an additional $40,500 annually toward retirement.2
- How Profit Sharing works- There are many options when it comes to Profit Sharing. Fisher is one of America's top advisory firms, and we have deep experience helping business owners set up Profit Sharing strategies tailored to their needs.
Download the to learn more about adding this plan option.
1This is based on a 50-year-old business owner maximizing their contributions for 2024 including catch-up contributions.
2Assumes a corporate tax rate of 33%.