Cut your taxes by nearly $5,000
with an Intuit 401(k)
Is this plan right for my business?
Not sure if the Intuit 401(k) is right for you? You can start by answering a few questions:
  • Are you a small business?
  • The Intuit 401(k) is built for small companies, not big ones. Our plan is affordable, easy-to-use and was designed for small, growing companies just like yours. Even companies with 1-2 employees have found the Intuit 401(k) right for them.
  • Are you busy and can’t manage a complicated plan?
  • Setting up and maintaining a 401(k) doesn’t have to be complicated. You can quickly and easily manage the Intuit 401(k) online.
  • Are you worried about managing investments?
  • Funds in the Intuit 401(k) are managed by Morningstar, a leader in helping investors achieve their financial goals.
  • Are you concerned about the cost of a 401(k) plan?
  • The cost of the Intuit 401(k) is much less than the tax savings you are likely to get from the plan. Learn more 
Maybe you’re not sure if a 401(k) is right for you. The chart below summarizes the most common retirement plans for small businesses. We encourage you to talk to your accountant, financial advisor or one of our Retirement Plan Consultants to determine which type of plan best suits your business goals and employees.

Features Intuit 401(k)
 SIMPLE IRA Traditional IRA
Who can contribute? Employee
+
Employer		 Employee
+
Employer		 Employee
Maximum employee contribution in 20111 $16,500
(or 100% of salary, whichever is less)		 $11,500
(or 100% of salary, whichever is less)		 $5,000
(tax-deductible portion)
Catch-up employee contributions allowed for those age 50 or older1 $5,500 $2,500 $1,000
(age 50 or older)
Safe Harbor match employer contributions Optional
If chosen, match only when employees contribute, up to first 4% of salary.		 Must offer employer match or profit-sharing (see below)
Employer match available only when employees contribute, up to first 3% of salary.		 Not applicable
Profit-sharing employer contributions Optional
Can decide amount after year ends, before filing business tax return.		 Required if no employer match (see above)
Must contribute 2% of salary for all employees regardless of whether they contribute anything.		 Not applicable
(SEP IRA, however, does allow employer contributions)
Maximum annual plan contribution (employee + employer)1 $49,000 individual limit per employee $11,500 + 3% of salary2 $5,000
(tax-deductible total)


1Limits are adjusted each year for inflation.
2Several formulas exist; this is one example of how to compute employer contribution.

This chart is not considered a comprehensive review of each plan type, and is not intended to provide legal, tax or investment advice. It is intended to be general in nature. Consult your accountant, legal or financial advisor for advice specific to your situation.


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