Many small businesses, partnerships and sole proprietors that want to offer a retirement plan for themselves and their employees choose a SIMPLE IRA.
Among the features of a SIMPLE IRA -- – or Savings Incentive Match Plan for Employees -- are:
They can be easy to administer, and don’t require legal or administrative fees
Employees can defer a portion of their salary into their IRA account
The...
For a small business or a sole proprietor, a Simple Employee Pension (SEP) plan may be an attractive retirement solution because it offers:
Easy startup
Low administrative costs
Flexible contribution terms
A potential three-year $500 tax credit for setting up the plan
Earnings grow tax-deferred
Under a SEP, employers contribute to Individual Retirement Accounts (IRAs) established for employees....
Smaller companies, partnerships and sole proprietors can establish plans to help their employees save for retirement. Individual Retirement Account-based plans are designed to be easy to create and maintain, and can be less expensive than other retirement plans.
Two popular types of IRA plans are:
SIMPLE IRAs
A Savings Incentive Match Plan for Employees (SIMPLE IRA) is a flexible plan for small businesses in which...
A type of agreement funded by life insurance to protect your business and your family in the event that something happens to you or a business partner
What is a buy/sell agreement?
The death of a small business owner, like you, may lead to internal turmoil, customer erosion and disruption in revenue flow. A buy/sell agreement funded with Nationwide® life insurance can help prevent these problems from arising, potentially...
A potentially tax-efficient way to leave your legacy to your beneficiaries
Design an inheritance strategy for the future
If you are over age 59½, in good health (or have a spouse who is in good health) and have ample retirement income and emergency funds, you can use wealth transfer strategy to reduce or even eliminate your remaining assets from the taxable estate at death – and potentially leave a greater amount to your...
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