SECURE 2.0 Highlights: Employer Tax Credits
Help clients take full advantage of SECURE 2.0’s enhanced tax credits with insights from IRS Notice 2024-02. Explore eligibility rules and planning opportunities for startup cost, employer contributions, and military spouse participation credits.
- Maximizing startup cost credits: Educate clients on how to qualify for the full 100% startup cost credit and avoid disqualification due to employee count changes during the credit window.
- Leveraging employer contribution credits: Help clients understand the separate 5-year credit for employer contributions, including eligibility rules and how to apply wage limits correctly.
- Supporting military spouse participation: Advise clients on how to claim the military spouse credit by meeting eligibility requirements and tracking the three-year participation window.
If you want a clear understanding of the eligibility requirements for retirement plan start-up credits, you'll find it in this installment of our SECURE 2.0 Highlights video series. We also outline the enhanced start-up credits now available to eligible employers, providing valuable insights for businesses looking to maximize their retirement plan benefits.
For an in-depth understanding of the SECURE 2.0 Act, visit Ascensus' dedicated resource center.
Ascensus is a market-leading enabler of tax-advantaged savings—providing technology, services, and expertise that help more than 15 million people save for a better future.
The company is a premier savings program service provider, third-party administrator, and government savings facilitator. Our platforms, industry knowledge, and data-based insights enhance the growth and success of our partners, their clients, and savers through co-branded, private-labeled, and governmental partnerships.
Ascensus offers comprehensive qualified and non-qualified retirement plan solutions, third-party retirement plan administration, 529 education and ABLE savings program administration, corporate- and bank-owned life insurance solutions, and fiduciary and total rewards services. The company’s brands include Ascensus; Newport, an Ascensus company; and FuturePlan by Ascensus.