Leveraging SECURE 2.0 Tax Credits for Military Spouses
Help clients understand the new tax credit for including military spouses in their employer-sponsored retirement plans under the SECURE 2.0 Act, guiding them through eligibility criteria and benefits.
Key Points
- Eligibility for Tax Credits: Educate clients on the criteria for small employers to qualify for the tax credit, including having 100 or fewer employees and offering a defined contribution plan.
- Credit Details and Timing: Inform clients about the specific credits available for military spouses and the timing for claiming these credits.
- Supporting Military Families: Highlight the importance of including military spouses in retirement plans, emphasizing the immediate eligibility for employer contributions and 100% vesting, which helps support their long-term financial security.