Does this qualify for small employer tax credits?
Yes, small employers under 100 employees without existing qualified plans can use this to meet qualification standards for tax credits, including up to $1,000 per employee for contributions and administrative cost credits.
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Must the IRS approve the plan?
An IRS approved prototype or a custom designed plan document must be adopted by each employer. The Wagner Law Group, one of the country’s leading ERISA firms, has prepared a simplified prototype. They will also prepare a customized document if you ...