Should I establish a SEP IRA or a SIMPLE IRA Plan for my small business?
You may be searching for retirement plan options that benefit your employees and yourself, without incurring burdensome costs or administrative complexity. SEP and SIMPLE IRAs can be great alternatives to 401(k)s, each offering attributes that could be attractive, depending upon your specific circumstances. Comparing these two options can be difficult, as there are multiple factors to weigh.
To help lead you through a SEP vs. SIMPLE IRA analysis, we have created this flowchart. Through a series of decision points, you can collect the information necessary to guide you and your business to the best decision. It covers pertinent factors, including:
Download your flowchart below!
To help lead you through a SEP vs. SIMPLE IRA analysis, we have created this flowchart. Through a series of decision points, you can collect the information necessary to guide you and your business to the best decision. It covers pertinent factors, including:
- Business owner goals and preferences
- Size of business / employee headcount
- Employer and employee ability to contribute
- Contribution minimums and limits
Download your flowchart below!
| should-i-establish-a-sep-ira-or-a-simple-ira-plan-for-my-small-business-2022.pdf |
What Next?
If you have some lingering questions after reviewing the checklist, feel free to schedule a call or come in for a review. You can use the links below.