Tax Expert Noel Spencer: Start-up Costs for Small Employer Pension Plan


Make text smaller Make text larger



Photos



  • Noel Spencer



Are employers allowed a tax credit equal to 50% of their qualified start-up costs for setting up a new retirement account and is it true that the credit cannot exceed $500?


Yes. An employer is allowed a tax credit of 50% of their start-up costs for setting up a new retirement plan. The credit cannot exceed $500 and is part of the general business credit. The credit applies to 50% of the first $1,000 of qualified expenses for each of the first three years of the plan (45E).

Noel Spencer
735 Broadway, Newburgh, NY 12550
845-220-2080
Ask Noel Spencer a Question
www.spencersfinancial.com




Make text smaller Make text larger

Comments

Pool Rules



MUST READ NEWS

WTBQ launches annual coat drive for needy families
— Share the warmth.
Orange County Community Radio WTBQ (1110 AM/93.5 FM) recently launched the Orange County Coat and Clothes...

Read more »
Image

M-W Girls and Boys Cross Country teams continue pursuit of Division 1 championship
MILTON — On Tuesday, Sept. 18, the Monroe-Woodbury Girls and Boys Cross Country teams beat NFA in league meets to complete another...
Read more »
Image

Sign language classes for kids now available at Monroe Free Library
MONROE — My Grown-Up & Me Sign Language, a sign language class for babies, toddlers and their parents, always begins with a...
Read more »
Image

Skoufis and educators join in call to repeal appr to let teachers teach
GOSHEN — Assemblyman and State Senate candidate James Skoufis (D-Woodbury) joined local education leaders on Monday to call for...
Read more »
Image

VIDEOS



Subscribe to our mailing list

* indicates required
Community Newspapers



MOST COMMENTED



Weather in Monroe, NY