One way to start saving is to open an IRA. AnIRA is an accountthat allows you to save for retirement with tax-free or tax-deferred growth. These options can help you invest in yourself and your business while avoiding taxation until you retire. SEP IRA: A SEP IRA can work for any si...
Small-business owners have many options when it comes to selecting a retirement plan. Determining which retirement plan is most appropriate can be a challenging task. This column compares four retirement plans commonly used by small businesses: Savings Incentive Match Plan for Employees (SIMPLE)-IRA...
Explore your options and find a tax-advantaged small business plan as a self-employed professional, entrepreneur, or business owner.
Below are four things every business owner should do now to stay on track for their eventual retirement. Understand all your options Individual Retirement Accounts (IRA), such as Traditional, Roth, SEP and SIMPLE IRAs, and Solo 401(k) plans are the norm forretirement savings optionsamong most...
we’ve got you covered. view the vanguard sep-ira ascensus individual(k) an individual(k)—also known as individual 401(k)—maximizes retirement savings if you're self-employed or a business owner with no employees other than your spouse. ascensus also offers a roth option. view the as...
SEP IRA Easy-to-maintain plan for a self-employed individual or small-business owner, with fewer than 5 employees1. Learn more SIMPLE IRA A low-complexity plan for businesses with fewer than 100 employees looking to offer a retirement benefit. Learn more Fidelity Advantage 401(k) An ...
As a small business owner, you have several tax-advantaged retirement savings options to consider for maximizing your retirement savings and reaping tax benefits. If you are self-employed without any employees, you might consider establishing a single-participant 401(k) plan, often called a “So...
SEP IRA Easy-to-maintain plan for a self-employed individual or small-business owner, with fewer than 5 employees1. Learn more SIMPLE IRA A low-complexity plan for businesses with fewer than 100 employees looking to offer a retirement benefit. Learn more Fidelity Advantage 401(k) An ...
As a small-business owner, you can also hire your parents.3 2. Fund a Retirement Plan for Yourself and Others Small-business owners have several retirement plan options that aren’t available to people who work for someone else and can result in a significant tax deduction. They in...
A SIMPLE—"Savings Incentive Match Plan for Employees"—IRA is a tax-advantaged retirement savings plan for most small businesses with 100 or fewer employees. Employers have two options: match an employee's contribution up to 3% or contribute 2% of the employee's compensation, whether or not ...