Many retirement plans offer tax benefits for the business owner, the company, and the employees. Some key advantages include:

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Tax-Deferred Growth: Your savings can grow faster since you don't pay taxes on them until you take out the money.

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Tax Deductions: Contributions to certain retirement plans can reduce your taxable income, saving you money on taxes each year.

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Tax-Free Withdrawals: Some plans allow for Roth contributions, which means there is potential you won't owe taxes when you withdraw money in retirement, allowing you to keep more of your savings.