Tax Expert Noel Spencer: Start-up Costs for Small Employer Pension Plan
| 26 Jan 2018 | 03:59
![Tax Expert Noel Spencer: Start-up Costs for Small Employer Pension Plan Noel Spencer](http://www.thephoto-news.com/binrepository/323x432/0c0/0d0/none/1050949/AWNQ/EXPERTS01_180129950_AR_-1_0_PN20180211180129950_MG2881054.jpg)
Noel Spencer
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).
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