If you have 100 or fewer employees, you can set up an uncomplicated retirement plan called a SIMPLE (Savings Incentive Match Plan for Employees). But there are a couple of key deadlines coming up.
For employees to be able to make contributions in 2000, you must have all paperwork complete by Oct. 1. Also, you must give your employees 60 days' notice about the plan before salary reductions can begin.
For more information, see IRS Publication 560, Retirement Plans for Small Business, and other retirement plan publications at www.irs.gov. Click on "Tax Info for Business" and then "Employee Plans Corner." Or call the IRS at (800) 829-3676.
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