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
- 4 employment law lessons from the courts
- Congress' employment law agenda: 7 key bills to watch closely
- Are government workers protected against bias based on marital status? 7th Circuit passes
- Contractor decision costs FedEx $319 million as class action grows