Author Topic: ideal for small business owners  (Read 268 times)

Offline ChiSpinning

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ideal for small business owners
« on: November 13, 2013, 09:18:16 PM »
What type of retirement account would you recommend for small business owners? My husband owns an auto repair center and we would like to start putting back money for retirement. We have 20 years to plan our retirement, being both 35 and we would like something that either makes money or is tax free.
« Last Edit: November 13, 2013, 09:18:16 PM by Guest »
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Offline SpyderGreat

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Re: ideal for small business owners
« Reply #1 on: November 14, 2013, 02:27:15 AM »
Tax sheltered savings plans help business owners invest in their employees. In turn, employees feel more secure in their jobs knowing that they are working towards *nding their *tures. Savings accounts are one way to put money aside for retirement, and Social Security is also an income source that many *ture retirees have plans to use for money once they have completed their working years. Some of the most po*r retirement plans for small business owners offer flexible investment options; good return rates, beneficial tax protection and easy employer implementation.
« Last Edit: November 14, 2013, 02:27:15 AM by Guest »
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Offline SpyderGreat

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Re: ideal for small business owners
« Reply #2 on: November 14, 2013, 02:27:35 AM »
I was just thinking of other retirement options for small business owner like you. The 401k is possibly the most po*r type of investment account that allows for pre-tax investing, if that’s what you want. There are several varieties in this category of investment accounts. The traditional 401K is flexible when it comes to contributions, allows for employers to match *nds and encourages monetary growth. However, traditional 401ks require a lot of annual paperwork, and may not be the best choices of retirement plans for small business. But it’s still up to you on which option to go for.
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Offline SpyderGreat

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Re: ideal for small business owners
« Reply #3 on: November 14, 2013, 02:27:53 AM »
In addition to a variety of 401ks, retirement plans for small business include the Simplified Employee Pension Plan or SEP and Savings Incentive Match Plan for Employees or SIMPLE. SEPs are po*r because they are easy to operate and are flexible. Basically, an employer creates an IRA for each of their employees and contributes tax protected amounts each year. With a SIMPLE plan, each employee also gets their own IRA, and both employer and employee can make contributions. These are great options that require little paperwork for businesses with less than 100 employees. Think about it, too! :)
« Last Edit: November 14, 2013, 02:27:53 AM by Guest »
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