SEP IRA Vs SIMPLE IRA : Small Business Retirement Plans.
The math for employees and owners of the SEP IRA and SIMPLE IRA are different so make sure to check the math before you decide. In this video, I’m talking about the SEP IRA and the SIMPLE IRA for self-employed small business owners.
SIMPLE IRA:
2% Non-Elective Match means every employee gets a contribution from the employer even if they don’t contribute anything.
3% Elective Match is to encourage employees to save too. If they don’t want to save then the employer doesn’t have to match. It’s dollar for dollar. So if the employEE contributes 1% of their compensation to their SIMPLE Plan then the EMPLOYER only has to match 1%.
SEP IRA is ALL employer funded.
Simplified Employee Pension IRA
Savings Incentive Match Plan for Employees IRA
SEP IRA Calculation for the small business owner
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Thank you, great video.
Best channel in YouTube
Is a 5% sales fee for a simple ira?
What if the business owner has over the 100 employees that the simple IRA plans allow but many of the employees are part time employees who make less than the $5k minimum. Does that business still qualify for the SIMPLE plan?
I thought I had a grasp on this IRA thing but I guess not! Gonna give your office a call
I'm a contractor and I wanna set up a simple IRA account for myself. I have no employee. Can I do that? I'm a sole proprietor. Or do I need a s Corp or LLC to do this
Thank you for the video and information brother!
Good info, however visual aids would help when you're spouting so many numbers. It's a video, not a podcast.
Do I have to pay taxes on sep ira every year?
does SEP IRA reduces employee's Adjusted Gross Income?
Excellent video, thanks-