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A SIMPLE IRA makes a great option for a small business to set up a retirement plan for its employees, with less hassle and expense than a typical 401(k) plan, and employees can benefit from the ...
The SIMPLE IRA is an easy way for small employers, including the self-employed, to offer employees a retirement plan. The SIMPLE IRA can be easier for an employer to set up than many 401(k) plans ...
As a self-employed individual, you probably know you can open and fund a small-business owner retirement plan. But you may need some help getting started. In previous articles, I've discussed the ...
An employee is allowed to make a direct rollover from a SIMPLE IRA into a Traditional IRA after at least two years has passed from the date the employee first participated in the plan. An employee is allowed to make a direct rollover from an IRA, a 401(k), or a 403(b) into a SIMPLE IRA after two years of participation.
When a business is a sole proprietorship, the employee/owner both pays themselves wages and may also make a SEP contribution, which is limited to 25% of wages, namely, profits minus SEP contribution. For a particular contribution rate CR , the reduced rate is CR/(1+CR) ; for a 25% contribution rate, this yields a 20% reduced rate, as in the above.
For some business owners, a SIMPLE IRA might offer a better solution. If you open a SEP IRA at a brokerage, the account allows you to invest in potentially high-return assets such as stocks and ...
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