How to Set Up a 401k for Your Employees

There's a psychological barrier between having a contribution coming out of your paycheck and having it come out of your checking account. So you are simply using as a placeholder, allowing your employees to contribute to something through payroll deduction. The next one is really it's going to be a simple IRA. And then there's some more advanced options on top of all these, right? Think of an upside down tiered cake. That's the employee portion of your 401k, 22,500. Then you have the employer portion that gets you up to that 66,000, known as profit sharing. On top of that, if you wanted to add even more, we get into defined benefit plans also known

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