Small Business Retirement
Small Business Retirement: Taking Care of You and Your Team
Setting up a retirement plan for your veterinary practice offers benefits for you, your staff, and your business. It helps secure your financial future beyond your practice, provides tax advantages unique to veterinary business owners, allows your savings to compound over time, and makes your clinic more attractive to skilled veterinary technicians and support staff. This can enhance your practice's stability and long-term success while supporting your personal financial goals.
What are the benefits of setting up a retirement plan?
A small business retirement plan can add value by providing benefits for you, your employees (if you have any), and your business.
- Kick-start your savings: As a small business owner, you are in a unique situation where planning for your retirement is entirely up to you. And if you employ others, you’ll be helping them get on the right track for retirement too.
- Tax breaks: All retirement plans offer tax-deferred growth on earnings. As an employer, you also benefit from tax-deductible employer contributions.
- Allow your money the opportunity to grow: In addition to your plan contributions, the compounding of interest, dividends, and capital gains allows your account to generate earnings on top of earnings.
Attract and retain employees: Offering a retirement plan to your employees can keep you competitive in the job marketplace and help your business flourish.
At Couloir Wealth, we can help small business owners maximize the benefits of retirement plans.
