SIMPLE IRA Eligibility Requirements To establish a SIMPLE IRA, you must be a small business owner or self-employed individual with 100 or fewer employees. Any employer – whether a corporation, partnership, or
Plans like these provide greater investment flexibility than traditional options, making them appealing to employers and employees alike. Understanding the unique features of self-directed SIMPLE IRAs can help employers decide whether this option aligns with their business goals. Emma Radebaugh ...
SIMPLE IRA 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, which have complex rules. Employers with 100 employees or fewer earning more th...
Self-Employed Retirement Plan Comparison (Updated for 2024 & 2025) Before I explain which plan(s) I chose to create and why, I compiled a chart that compares the self-employed retirement account options against each other, updated for the 2024 and 2025 tax years. SEP IRA vs. Solo 401K vs...
ARoth IRAis similar in purpose to other IRAs, but it is funded using after-tax money. Investments are allowed to grow tax-free. There is no tax on withdrawals, either, if you follow certain rules, such as being at least 59½ years old and having this or another Roth IRA for at le...
In this article, we’ll walk you through the potential advantages, drawbacks, and how to make the switch from a 401(k) to a self-directed IRA. The Entrust Group May 08, 2025 Self-Directed Roth IRAs: Rules, Benefits, and Risks
With a self-directed IRA, you can invest in assets that aren't available with standard IRAs. Self-directed IRAs are available as Roth accounts, which allow tax-free distributions, and traditional accounts, which allow tax-deductible contributions. Learn More Business Accounts Self-employed indivi...
Self-employed? Lower your tax bill with these 23 common self-employed tax deductions. Learn about home office deductions, business expenses, and more.
can only rollover a 401K into a self-directed IRA when you leave your job or retire. If you are still actively employed with the company that sponsors the 401K, you may need to check with your employer to determine whether they allow in-service withdrawals or rollovers while still employed...
Self-employed people can deduct the costs associated with their business use of a personal vehicle. This can be done through the standard mileage rate method or by tracking actual expenses related to business usage. Contributions to a SEP IRA, SIMPLE IRA, or other retirement plan designed ...