SEP IRA

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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When Can I Make Catch-Up Contributions to 401K, IRA, 403b and SIMPLE IRA Retirement Plans

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Catch-up contributions allow people who feel that they do not have enough of a nest egg to make higher retirement plan contributions as they approach retirement. If you are over or turning 50 in a given calender year you are eligible to make additional or catch-up contributions to your current retirement plan (401K, 403b, IRA etc). […]

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2017 and 2016 Simple IRA Contribution and Income Limits – Small Business Retirement Plans

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A SIMPLE IRA is also a small business IRA-based plan with a simplified method for employers to make direct contributions (via salary reductions) toward their employees’ retirement and their own retirement. Employees may choose (not mandatory) to make regular contributions and the employer makes matching or non-elective contributions. No other contributions may be made under a […]

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Small Business Retirement Plans – 401k, SEP IRA, Simple IRA and ESOP plans

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Although many large organizations offer retirement savings plans, it is not necessary to be a part of corporate America in order to take advantage of tax-deductible retirement plans for investing in your future. In fact, as a self-employed small business owner or an employee of a small business, you have several options with regard to tax-advantaged saving for […]

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