Small Business Adviser Employee Benefits

Salaries of employees at small businesses have seen very little growth over the past year.

Because of aggressive marketing by firms encouraging small businesses to claim the pandemic-era tax break, the feds are worried about fraud, however, tax experts disagree on whether or not the 180-day extension is necessary.

Small business owners now have a range of options depending on the number of employees, but it's essential to start early, leverage tax-advantaged retirement accounts, diversify investments and plan for an exit strategy.

New state laws are attempting to solve a problem: Few private sector workers save for retirement without an employer-sponsored retirement plan, so it's important for small businesses to take steps now to set up a strategy.

The new legislation is a win-win for workers and small businesses, offering access to expanded retirement plan benefits for employees and helping to level the playing field for small businesses competing to retain top talent.

It's important to be aware of the many challenges and opportunities small business owners and managers face today.