If you don’t have a 401(k) plan, you could be paying an extra $5,000 in income taxes this year.

And once you’ve paid those taxes, that money is gone forever.

Why not put that $5,000 in taxes directly into your own 401(k) account instead?

Here’s how it works:

401(k) contributions are tax-deferred. The money you contribute to your account goes in along with the income taxes on that money that you would otherwise have to pay.

Example of tax savings

The Intuit 401(k) is affordable and easy to get started

Plans start at $75 a month with a one-time set-up fee.

Tax credits and deductions reduce these costs significantly:

• Special business tax credits can offset your plan costs by up to $500 a year for the first three years. For most small companies, this cuts the plan cost in half—you can end up paying as little as $37.50 a month after the credit is applied.
• Plan expenses and contributions are tax-deductible for your small business.