I have 2 LLCs, each with a restaurant chain, both have employees. What type of retirement plan should I setup for myself and some of the employees(I would ideally like to only offer to managers who have been there for 2+years)? I want the biggest tax benefit for the companies at the lowest cost.
From my research I think I would do a i401k for myself(as a consultant paid with through a 1099) and set up a safe harbor 401k for the employees (salary employees).
Anyone have any suggestions on a better plan or why this wouldnt work? I just want as much info before seeing the financial adviser and lawyer
From my research I think I would do a i401k for myself(as a consultant paid with through a 1099) and set up a safe harbor 401k for the employees (salary employees).
Anyone have any suggestions on a better plan or why this wouldnt work? I just want as much info before seeing the financial adviser and lawyer