Previously we discussed the ease of having regular investments made through payroll deductions. Yet it doesn't have to be an IRA. It could be any account outside IRA. It's a fairly easy way to being a regular investor. I could...
Note: Albany.com is not responsible for posts and comments written by non-staff members.
The Payroll IRA
So let's say you do not want to make any contributions to your own retirement plan. Often it's not a case of not wanting but that you're investing in your business. Keep in mind that many of your employees may...
To Roth or Not
You have heard of the difference between a Regular Traditional IRA and a Roth IRA. The main difference is that with the older, traditional IRA you can deduct from your taxes any contributions you make prior to tax deadline. However,...
The Goold Old IRA
You may be asking yourselves, "Why even start any retirement plan like a SEP or Simple or even an IRA when I have the value of my business as a source of retirement income?" I mentioned this before but it's...
Meet Matt M.
In our discussion on the Individual 401(k) Plan I promised to give an example of how it works. Keep in mind this plan suits a sole proprietor with no employees. Matt M. owns a growing printing and engraving company and...
HEY, I’M ALONE HELP
Bob, I appreciate your posts on different retirement plans for the Business Owner but I don't have any employees so what can I do beyond a normal, traditional IRA? That's one message I recently received from Mr. Anonymous. There's an...
Making You A Wizard On Self-Employed Pension Plans
SEP-IRAs may very well be an attractive option for the self-employed business owner. It is similar to a Profit Sharing Plan in a 401(k) but much easier to establish and administer. The employer establishes the plan (one document) and sets...
The Alphabet Soup Of Retirement Plans For Business Owners
The Government comes up with letters to shorten various programs in all areas of finances. You have heard of IRA (Individual Retirement Account) and 401k, a special retirement plan. Have you ever heard of SEP? This is short for Simplified...
Posts Apply To Workers of Business Owners As Well
In many of the posts, we have concentrated on the owner or owners of the business. However, I need to point out that many if not all entries also apply to workers of the self-employed. In America, 3 out...