Compare Self Employed Retirement Plans
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Also, a 401k plan and a profit sharing plan can be combined with a defined benefit plan to maximize annual contributions.
Are you self employed and have no W-2 employees? If you are then you should consider an Individual 401k as an alternative to a Simple IRA. Self employed individuals who would like to contribute in excess of the limits of a Simple IRA should consider an Individual 401k since it has higher contribution limits. A Simple IRA is easy to set up and has low administrative responsibilities. Relatively low maximum annual contribution limits.
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Compare Self Employed Retirement PlansDESCRIPTION
A comparison of the SEP IRA, Individual 401k, Defined Benefit Plan and SIMPLE IRA.PARSED CONTENT
The website selfemployedretirementplans.individual401k.com has the following in the homepage, "Successful self employed business owners are often looking for ways to increase their self employed tax deductions." I analyzed that the webpage also stated " One of the most significant tax deductions for the self employed is to make a contribution to a self employed retirement plan." They also stated " Self employed retirement plans for one person business, an owner and spouse business or a partnership no W-2 employees. 2015 SEP IRA contribution limit is 53,000. Easy to set up and minimal administrative responsibilities."ANALYZE OTHER WEB SITES
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