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Casual Articles - Three Easy Pension Plan Options for Small Businesses
Essential Abilities For A Career In LawVery often, students enroll themselves into a law school without having a clear idea of what the profession is all about. Many are attracted by the title of lawyer and decide to pursue a degree in law without having proper knowledge of the career.There are certain characteristics that one needs to have to succeed in a career in law. You should assess yourself before actually enrolling into any institution. To have a clear idea, you can visit local courts, attend trials, talk to lawye
What's neat about a SEP-IRA, a
Since we are rushing toward another new year, I find it appropriate to reflect on the values and motivations of the Candidates and Clients of S. R. Clarke and why at this time of year so many professionals opt to consider their career options. As a company, we tend to work almost exclusively with employed Candidates. Consequently it is incumbent upon our counselors to go through an in-depth discovery process of why an employee will decide to leave an employer where they have been committed for several years.I?ve recently had the
Easy Option #1: Don't Forget About A Regular Old IRA
Here's the first thing to consider--even though it sounds like a wimp-out: Maybe you shouldn't setup a pension plan all at for your small business. Maybe you should just use an individual retirement account, or IRA, and encourage employees to do the same.
You might even specially budget bonuses for yourself and for employees that get paid at year-end when people may be thinking about tax deductions.
In 2007, an individual can contribute up to $4,000 a year to either a traditional IRA or a Roth-IRA.
That maybe doesn't seem very clever or sophisticated. But a $4,000 a year contribution grows to more than $600,000 (in real, adjusted for inflation value). That's enough to rather easily pay a $25,000 a year retirement benefit. Note that most workers will also get between $10,000 and $20,000 in social security benefits. Which means that an IRA might just be the perfect solution for many people.
Easy Option #2: Consider A SEP-IRA
Here's another easy option--a Simplified Employee Pension IRA, or SEP-IRA.
You can setup a SEP-IRA (both the plan and the worker savings accounts) by filing a bit of paperwork with an investment company like the Vanguard Group, Charles Schwab, or Fidelity. (Any of these outfits will send you paperwork that explains how to setup your SEP-IRA in, oh, about ten minutes.)
What's neat about a SEP-IRA, as
The Georgia State Agency that oversees the collection and reporting of State income taxes deducted from payroll checks is: Department of Revenue Withholding Tax Unit 504 Trinity-Washington Bldg. 270 Washington Street Atlanta, GA 30334 404-417-2311 http://www.etax.dor.ga.gov/withholding.shtmlGeorgia requires that you use Georgia form "G-4, Employee's Withholding Certificate" instead of a Federal W-4 Form for Georgia State Income Tax Withholding.Not all states allow sala
You might even specially budget bonuses for yourself and for employees that get paid at year-end when people may be thinking about tax deductions.
In 2007, an individual can contribute up to $4,000 a year to either a traditional IRA or a Roth-IRA.
That maybe doesn't seem very clever or sophisticated. But a $4,000 a year contribution grows to more than $600,000 (in real, adjusted for inflation value). That's enough to rather easily pay a $25,000 a year retirement benefit. Note that most workers will also get between $10,000 and $20,000 in social security benefits. Which means that an IRA might just be the perfect solution for many people.
Easy Option #2: Consider A SEP-IRA
Here's another easy option--a Simplified Employee Pension IRA, or SEP-IRA.
You can setup a SEP-IRA (both the plan and the worker savings accounts) by filing a bit of paperwork with an investment company like the Vanguard Group, Charles Schwab, or Fidelity. (Any of these outfits will send you paperwork that explains how to setup your SEP-IRA in, oh, about ten minutes.)
What's neat about a SEP-IRA, a
A very large percentage of businesses fail within a few years of opening. A lot of websites on the internet have been abandoned and can be considered failures. When people fail at things the first thing the look at is how hard they worked. If someone fails at something when they give maximum effort they may be puzzled as to why things did not go the way they would have liked. The thing that many people do not realize is that hard work does not always pay off, although it is still very important in business.Hard work along with l
In 2007, an individual can contribute up to $4,000 a year to either a traditional IRA or a Roth-IRA.
That maybe doesn't seem very clever or sophisticated. But a $4,000 a year contribution grows to more than $600,000 (in real, adjusted for inflation value). That's enough to rather easily pay a $25,000 a year retirement benefit. Note that most workers will also get between $10,000 and $20,000 in social security benefits. Which means that an IRA might just be the perfect solution for many people.
Easy Option #2: Consider A SEP-IRA
Here's another easy option--a Simplified Employee Pension IRA, or SEP-IRA.
You can setup a SEP-IRA (both the plan and the worker savings accounts) by filing a bit of paperwork with an investment company like the Vanguard Group, Charles Schwab, or Fidelity. (Any of these outfits will send you paperwork that explains how to setup your SEP-IRA in, oh, about ten minutes.)
What's neat about a SEP-IRA, a
Each year, a number of individuals consider a career in the indoor air quality (IAQ) field. If you are one of those individuals, you may be end up starting a career in an enjoyable and profitable field. As with many other jobs, you will need to undergo training and certification. Unfortunately, there are many individuals who do not always have to time to undergo training. If you are one of those individuals, you may be able to benefit from online IAQ training.Online IAQ training is similar to the training that is offering in
Easy Option #2: Consider A SEP-IRA
Here's another easy option--a Simplified Employee Pension IRA, or SEP-IRA.
You can setup a SEP-IRA (both the plan and the worker savings accounts) by filing a bit of paperwork with an investment company like the Vanguard Group, Charles Schwab, or Fidelity. (Any of these outfits will send you paperwork that explains how to setup your SEP-IRA in, oh, about ten minutes.)
What's neat about a SEP-IRA, a
When we envision a call center we visualize a big room full of cubicles, desks, and customer service reps (CSRs) answering their telephones with their headsets on. We envision clients and customers calling into a queue and waiting for the next available rep. We think of call center customer service as how fast the CSRs answer the telephone calls – the longer the wait time, the worse the customer service is perceived to be.But call center customer service goes far beyond that. A call center is a place where a business answers the
What's neat about a SEP-IRA, as compared to the easy, non-option of just going with a traditional or Roth IRA, is that you can contribute more money. Partners and sole proprietors, for example, can contribute up to 20% of their earnings to a SEP-IRA. Corporations can contribute up to 25% of an employee's annual wage to a SEP-IRA. Note that this contribution can't be more than $44,000.
A sole proprietorship business that makes its owner $50,000 a year, for example, can probably pay roughly $10,000 a year into the owner's SEP-IRA account. Continued over four decades, this annual savings amount grows to roughly $1,500,000 in adjusted-for-inflation dollars. That's a big enough balance to pay you a $62,000 a year retirement benefit.
One wrinkle about SEP-IRA plans. You generally need to cover all the adult employees of the business who've worked for you for more than three years. SEP-IRA pension plans, therefore, may be most attractive to one employee businesses and to businesses that by their nature don't employ anybody other than the owner for more than a year or two.
Easy Option #3: Go with a Simple-IRA
If neither a regular IRA or a SEP-IRA seems a good fit, you have one other easy option, a SIMPLE-IRA. A Simple-IRA works like a no frills 401(k) plan. Employees can contribute up to a s
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