Personal Finance, Investing, Retirement Planning, Financial Planning Chris Randall Personal Finance, Investing, Retirement Planning, Financial Planning Chris Randall

CA Law Affects Small Business Owners

If you run a small business in California, and have even ONE employee, you are required to offer a retirement savings plan by the end of 2025. SB1126 was signed by Gov Newsom in 2022, and will automatically enroll you and your employees in the state run CalSavers retirement plan if you don't set up your own qualified plan, like a 401k.

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Personal Finance, Investing, Family Finances, Retirement Planning, Financial Planning Chris Randall Personal Finance, Investing, Family Finances, Retirement Planning, Financial Planning Chris Randall

The Solo 401k

ATTN: Solopreneurs – The Solo 401k is the secret wealth hack you didn’t know you needed. If you are a business owner and your only employee is yourself, you can save a massive amount in taxes by opening a Solo 401k plan. These plans can be setup at a reputable firm like Charles Schwab, and often have low/no fees.

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