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Small biz retirement plans: Which is best?

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in Employment Law,Human Resources,Small Business Tax,Small Business Tax Deduction Strategies

How can you save for retirement while operating your business? At one time, small business owners were often left out in the cold. But retirement savings isn’t just for the “big boys,” anymore. Now, you can choose from several types of tax-favored retirement plans geared to small businesses and sole proprietorships.

In this special report, we’ll analyze 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.

As easy as S-E-P

As the name implies, a simplified employee pension is easy to establish and use. All you have to do is fill out an IRS form (Form 5305-SEP) and provide copies to plan participants. You don’t even have to send a copy to the IRS.

Eligibility: With a SEP, you must make contributions on behalf of all employees age 21 or over who have worked for your company during three out of the p...(register to read more)

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