Now, you can choose from several types of tax-favored retirement plans geared to small businesses and sole proprietors.
The chart below compares the main features of the four most popular alternatives for small businesses: Simplified Employee Pensions (SEPs), Savings Incentive Match Plans for Employees (SIMPLEs), Keogh plans and Solo 401(k) plans.
Note: Figures are based on 2006 tax-year limits.
For a more detailed comparison of these retirement plans, send an e-mail message to SBTSeditor@NIBM.net, with the subject line “Small biz retirement plans,” and we’ll send you our special report.
- How to Fire an Employee the Legal Way: 6 Termination Guidelines
- Disabled employee must be able to perform
- Employee behaving strangely? Think twice before urging her to seek counseling
- The right way to prepare for layoffs … and some alternatives
- Employee thinks he has you over a barrel? If it sounds like extortion, fire him!