Start a New Retirement Plan (FREE?)

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1. Do you have 10 or more employees?
2. Company has been established for at least 2 years
3. No tax-qualified retirement plans (ex.  401(k), SEP IRAs, SIMPLE(s)

  You are required to set up one...or fall under the NY State Automatic IRA Reduction Plan.

1. First three tax years
2. Credit = 50% of employer plan costs
3. Formula:  $250 * the number of eligible employees, not to exceed $5,000