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Do You Qualify for a Free Consultation With a Fortune 500 Analyst? Meeting with talented entrepreneurs keeps us sharp. That’s why we make it a practice to sit down with a certain number of business owners on a regular basis to assess their financial situation and make recommendations free of charge. Yet because we only have a limited amount of time we do this, we have to be selective about who we do this for. |
The lack of an employer-sponsored retirement plan like a 401(k).
workers, this account mimics many of the features of an employer-sponsored plan, without the drag
of working for another.
Use the plan to cover both you and your spouse.
The total solo 401(k) contribution limit is up to $56,000 in 2019. There is a catch-up contribution of
an extra $6,000 for those 50 or older.
workers, this account mimics many of the features of an employer-sponsored plan, without the drag
of working for another.
Use the plan to cover both you and your spouse.
The total solo 401(k) contribution limit is up to $56,000 in 2019. There is a catch-up contribution of
an extra $6,000 for those 50 or older.
401K's
(SEP) stands for Simplified Employee Pension.
Any business owner with one or more employees, or anyone with freelance income, can open a
SEP IRA.
Contributions, which are tax-deductible for the business or individual, go into a traditional IRA held
in the employee's name. Employees of the business cannot contribute - the employer does.
Like a traditional IRA, the money in a SEP IRA is not taxable until withdrawal. You can contribute up
to 25 percent of each employee's pay (and 25 percent of your net self-employment income). You
cannot exceed the lesser of: 25% of compensation, or. $56,000 for 2019 ($55,000 for 2018 )
Any business owner with one or more employees, or anyone with freelance income, can open a
SEP IRA.
Contributions, which are tax-deductible for the business or individual, go into a traditional IRA held
in the employee's name. Employees of the business cannot contribute - the employer does.
Like a traditional IRA, the money in a SEP IRA is not taxable until withdrawal. You can contribute up
to 25 percent of each employee's pay (and 25 percent of your net self-employment income). You
cannot exceed the lesser of: 25% of compensation, or. $56,000 for 2019 ($55,000 for 2018 )
SEP IRA's
SIMPLE stands for Savings Incentive Match Plan for Employees IRA
A SIMPLE IRA is a retirement plan designed for and available to any small business with 100 or
fewer employees.
The employer is required to contribute either a matching contribution of 3 percent of compensation
or a 2 percent non-elective contribution for each eligible employee (meaning the employer
contributes even if the employee doesn't).
SIMPLE IRA participants can make employee contributions up to a certain amount. Workers
younger than 50 have a $12,500 maximum contribution. Those 50 or older can get a $3,000
catch-up contribution, making the overall maximum $15,500.
A SIMPLE IRA is a retirement plan designed for and available to any small business with 100 or
fewer employees.
The employer is required to contribute either a matching contribution of 3 percent of compensation
or a 2 percent non-elective contribution for each eligible employee (meaning the employer
contributes even if the employee doesn't).
SIMPLE IRA participants can make employee contributions up to a certain amount. Workers
younger than 50 have a $12,500 maximum contribution. Those 50 or older can get a $3,000
catch-up contribution, making the overall maximum $15,500.
SIMPLE IRA
To you on a future date or series of dates.
There are three types of Annuities to invest in:
You can buy annuities for safety, long-term growth, or for income.
There are three types of Annuities to invest in:
- Fixed
- Indexed
You can buy annuities for safety, long-term growth, or for income.
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