retirement Plans

2016 and 2017 SEP IRA Contribution Limits and Eligibility Rules

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[Updated for 2016 and 2017 limits]  A year or so after starting my small business and completing my first annual tax return that showed a slight profit, my accountant advised that I start looking into a retirement account/plan for my business in order to lower my overall tax bill and also effectively set aside some […]

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Maximum Employee and Employer 401k Contribution Limits and Catch-up Amounts

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[Updated with 2015 changes] I recently received a few questions regarding 401k retirement plans and contribution limits. The first thing to understand is that there are two main types of contributions that go into these plans. One is your contribution, or elective deferral, and the other is your employers, or matching, contribution. Secondly there are […]

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