Retirement Plans for Small Business and Sole Proprietors

SEP-IRA’s and SIMPLE plans, as of 2002, allow the self-employed to set aside as much as 31% of their income tax-deferred. A business owner earning $100,000 could stash close to $31,000 in his or her retirement plan and take a tax deduction for the whole thing.

On top of that, they give you the ability to borrow money from your own plan. It's not the best move in the world, but not the worst either, since you end up paying interest to yourself. There's no minimum required contribution, either, so if you have a tight-money year, you can contribute less or nothing at all.

Other Retirement Planning Topics:

1. Retirement Planning
2. IRA’s (Individual Retirement Account) – Traditional IRA
3. Roth IRA – Taking Money Out
4. Employer Sponsored Retirement Plans
5. Retirement Plans - Continued
6. 401K Savings
7. Notes for 403(b) Plan Participants
8. Senior citizens retirement resources
9. Retirement Plans for Small Business and Sole Proprietors
10. Simplified Employee Pension (SEP) IRAs
11. SIMPLE (Savings Incentive Match Plan for Employees) IRA
12. Your own 401(k) for the self-employed
13. Employer Retirement Plan Vesting and Contribution
14. Forgotten Retirement Benefits
15. Other thoughts about retirement accounts
16. Other thoughts about your retirement needs
    

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