Sorting Out the Self-Employed Retirement Plan Options
November 12, 2020
Retirement Plan Options blurb: If you run your own business, chances are pretty good that you know a lot about the products or services you offer. That’s why you’re in business for yourself, right?But while you’ve surely got that part of it down, you may find that you aren’t nearly as familiar with your business finances — taxes, payroll, accounting, and employee benefits, just to name a few.
For those with employees, the financial complications can become overwhelming, especially if you’re not familiar with all of the rules and options available to you as a business owner. One particularly confusing aspect has to do with employee retirement plans. Even if you have no employees and you yourself are the only one involved, you still may want to set up a retirement plan for yourself.
There are several tax-advantaged options available to a business owner, and finding one that’s suitable for you can be a daunting task.