Are qualified retirement plans tax-deductible?

However, most of the retirement savings programs offered by employers are qualified plans because the contributions are tax-deductible. There are several types of qualified plans, including Gold Silver Backed IRAs, although some are more common than others. You can easily contribute to a retirement plan through payroll deductions with your employer. Your contributions (except for a Roth account) are tax-exempt and any investment interest accrued on the Gold Silver Backed IRA is not taxable until you withdraw it. You can even transfer funds from one account to another or keep the account when you change employers.

A qualified plan confers tax advantages on both employers and employees. Any contributions they make on behalf of workers are not subject to payroll taxes. Small businesses that establish qualified retirement plans may be entitled to tax credits to defray start-up costs.