Form 8881 Fill in Version Credit for Small Employer Pension Plan Startup Costs

Instructions and help about Form 8881 Fill in Version Credit For Small Employer Pension Plan Startup Costs

this video we'll be going over IRS form 8881 credit for small employer Pension Plan startup costs and auto enrollment so this is uh part of the general business credit that certain employers can claim an IRS form 3800 with their income tax return and there are actually two credits at play here so part one is the credit for small employer Pension Plan startup costs and then part two is the small employer Auto enrollment credit so uh there are a couple of things that we should know before we go too far into depth about uh calculating this credit so first you have to be an eligible employer um and we'll get to the eligibility requirements for for each credit as we go through the part we'll also need to understand what qualified costs are what an eligible employer plan is and then you know what how this credit plays out over time so with uh let's start with part one part one the credit for small employer Pension Plan startup costs this is a tax credit that's allowed under Internal Revenue