TaxBandits Knowledge Base

What are the retirement plans offered by TaxBandits?

We offer several retirement plans for employees to get benefits. Here the plans offered by TaxBandits

• 401(K) traditional: A traditional 401(K) plan is an employer-sponsored plan that provides an option for employees to invest for their retirement years. This plan allows deferrals from your paycheck on a pre-tax basis, which means that contributions are made before taxes are taken out.
• 401(k) Roth: This retirement plan is similar to a traditional 401(k), the only difference is contributions made by employees are not tax deferred. This plan allows deferrals from your paycheck on a post-tax basis, meaning that contributions are deducted after taxes are taken out.
• SIMPLE IRA: A SIMPLE IRA or Savings Incentive Match Plan for Employees(SIMPLE IRA) is a retirement savings plan that is mostly used by small businesses with fewer employees. This plan is also a tax-deferred retirement plan.