Are retirement plans different for the self-employed and employees of small businesses? Do you have to work full-time to qualify for one?
What will be an ideal response?
Answer: Both part-time and full-time small business owners and employees can qualify for one of three tax-favored retirement plans. A Keogh plan allows large tax-deductible contributions to either a defined-contribution or a defined-benefit or a combination of both plans. Under a defined-benefit Keogh you are allowed to contribute whatever amount you deem necessary to meet your needs. A SEP-IRA is similar to a Keogh and is easier to set up, but contributions are more limited. A SIMPLE plan provides some employer matching funds, is for businesses with less than 100 employees, and is very simple to set up and use.
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Firms with planning systems more closely resembling strategic-management theory generally exhibit superior long-term financial performance relative to their industries
Indicate whether the statement is true or false
Sales less variable cost of goods sold is referred to as ________________________________________
Fill in the blank(s) with correct word