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Planning for the Future
Planning for the Future
Business owners frequently put off planning for their retirement. If you have employees, you may want to offer retirement as a benefit, but feel you are unable because of its expense. However, there is one option you may want to consider that would ensure income for you and your employees in your later years: a SEP Plan.
What is a SEP Plan?
SEP stands for Simplified Employee Pension. A SEP is a retirement savings plan that small companies often offer to their employees. It is also ideally suited for the self employed. SEPs combine many of the advantages of more complicated qualified plans but are as simple to understand as IRAs.
As a self employed person, why should I invest in a SEP over an IRA?
A SEP allows you more of a deduction than an IRA. An IRA deduction is limited to $2,000 per year. With a SEP, you can contribute up to 15% of your income, not to exceed $24,000. If your income is $35,000 for a certain year and you contribute $5,000 to a SEP, your federal income tax will be calculated on only $30,000. Assuming a 28% tax bracket, that saves you $1,400 in taxes. You can then invest that money directly into your retirement account.
How do SEPs appeal to small business owners?
SEPs can be administered with minimal administrative support, since there are no complicated reporting requirements. Each employee sets up his or her own IRA to receive SEP contributions, and each employee is responsible for choosing his or her own investments. In addition, employers can determine when and what amount to contribute to employee accounts. Since the contributions are tax deductible, you pay less in federal taxes.
What is the appeal for employees?
These days, it is hard for anyone to save money. SEPs make it possible for employees of small firms to receive employer contributions to their retirement funds and also benefit from tax deferred growth like employees of companies with other tax deferred pension plans.
As an employer offering SEPs, must I always contribute?
SEPs offer employer flexibility. You decide when and if to contribute. For instance, if you are having a tough year, you may want to make a smaller contribution than the year before or not contribute at all. By the same token, if you are having a stellar year, you can reward employees for their accomplishments with a larger contribution.
Do I have to contribute the same amount to all employees?
No. You do not have to offer the exact same dollar amount to each employee. However, you are required to contribute the same percentage of compensation for all eligible employees. Employer contributions may not exceed the lesser of 15% of an individual employee's compensation or $24,000.
What are the employee eligibility guidelines?
Eligible employees include non-union employees who are at least 21 years old, have worked for you at least 3 of the last 5 years, and have earned at least $400 during the past year.
When can you set up a SEP Plan?
As the employer, you have until the due date for your business tax return (plus extensions) to set up a SEP. To establish a SEP, you must sign an adoption agreement. Once the plan is set up, all eligible employees (including yourself) can establish IRAs to receive the SEP contributions.
Who can I call if I want to consider developing a SEP plan for my business?
Your accountant and investment adviser can help you determine if a SEP is the best choice for your business. They will look at your business profitability, your employee base, and how a SEP compares to other pension plan options. The important thing is to start as early as possible. In the first few years of your business, cash flow may not be on your side, but time is. Take advantage of it! Commit to paying yourself first. Develop a plan that will enable you to live the lifestyle you want when you retire. There is no time like the present to plan for the future!
Translate:
Business owners frequently put off planning for their retirement. If you have employees, you may want to offer retirement as a benefit, but feel you are unable because of its expense. However, there is one option you may want to consider that would ensure income for you and your employees in your later years: a SEP Plan.
What is a SEP Plan?
SEP stands for Simplified Employee Pension. A SEP is a retirement savings plan that small companies often offer to their employees. It is also ideally suited for the self employed. SEPs combine many of the advantages of more complicated qualified plans but are as simple to understand as IRAs.
As a self employed person, why should I invest in a SEP over an IRA?
A SEP allows you more of a deduction than an IRA. An IRA deduction is limited to $2,000 per year. With a SEP, you can contribute up to 15% of your income, not to exceed $24,000. If your income is $35,000 for a certain year and you contribute $5,000 to a SEP, your federal income tax will be calculated on only $30,000. Assuming a 28% tax bracket, that saves you $1,400 in taxes. You can then invest that money directly into your retirement account.
How do SEPs appeal to small business owners?
SEPs can be administered with minimal administrative support, since there are no complicated reporting requirements. Each employee sets up his or her own IRA to receive SEP contributions, and each employee is responsible for choosing his or her own investments. In addition, employers can determine when and what amount to contribute to employee accounts. Since the contributions are tax deductible, you pay less in federal taxes.
What is the appeal for employees?
These days, it is hard for anyone to save money. SEPs make it possible for employees of small firms to receive employer contributions to their retirement funds and also benefit from tax deferred growth like employees of companies with other tax deferred pension plans.
As an employer offering SEPs, must I always contribute?
SEPs offer employer flexibility. You decide when and if to contribute. For instance, if you are having a tough year, you may want to make a smaller contribution than the year before or not contribute at all. By the same token, if you are having a stellar year, you can reward employees for their accomplishments with a larger contribution.
Do I have to contribute the same amount to all employees?
No. You do not have to offer the exact same dollar amount to each employee. However, you are required to contribute the same percentage of compensation for all eligible employees. Employer contributions may not exceed the lesser of 15% of an individual employee's compensation or $24,000.
What are the employee eligibility guidelines?
Eligible employees include non-union employees who are at least 21 years old, have worked for you at least 3 of the last 5 years, and have earned at least $400 during the past year.
When can you set up a SEP Plan?
As the employer, you have until the due date for your business tax return (plus extensions) to set up a SEP. To establish a SEP, you must sign an adoption agreement. Once the plan is set up, all eligible employees (including yourself) can establish IRAs to receive the SEP contributions.
Who can I call if I want to consider developing a SEP plan for my business?
Your accountant and investment adviser can help you determine if a SEP is the best choice for your business. They will look at your business profitability, your employee base, and how a SEP compares to other pension plan options. The important thing is to start as early as possible. In the first few years of your business, cash flow may not be on your side, but time is. Take advantage of it! Commit to paying yourself first. Develop a plan that will enable you to live the lifestyle you want when you retire. There is no time like the present to plan for the future!
Translate:
Perencanaan
untuk masa depan
bisnis Pemilik [yang] sering perencanaan
ditangguhkan untuk pengunduran diri mereka. Jika kamu mempunyai karyawan, kamu
boleh ingin menawarkan pengunduran diri sebagai manfaat, tetapi merasakan kamu
adalah tidak mampu oleh karena biaya nya. Bagaimanapun, ada satu pilihan [yang]
kamu boleh ingin mempertimbangkan itu akan memastikan pendapatan untuk kamu dan
karyawan mu di (dalam) tahun kemudiannya mu: suatu SEP Merencanakan.
Apa yang sesungguhnya adalah SEP Rencana?
SEP mewakili Karyawan Disederhanakan
Pensiun/Rumah penginapan. Suatu SEP adalah suatu pengunduran diri uang tabungan
merencanakan perusahaan [yang] kecil itu sering menawarkan kepada karyawan
mereka. Ini juga idealnya cocok untuk diri mempekerjakan. SEPS berkombinasi
banyak dari keuntungan [dari;ttg] [yang] lebih mempersulit rencana berkwalitas
tetapi adalah [sebagai/ketika/sebab] sederhana untuk memahami [ketika;seperti]
IRAS.
Sebagai diri mempekerjakan orang, mengapa aku
menanam modal dalam suatu SEP (di) atas suatu IRA?
Suatu SEP mengijinkan kamu lebih banyak suatu
pengurangan dibanding suatu IRA. Suatu IRA pengurangan [di/terbatas] pada $
2,000 saban tahun. Dengan suatu SEP, kamu dapat menyokong atas [bagi/kepada]
15% tentang pendapatan mu, [yang] bukan untuk melebihi $ 24,000. Jika
pendapatan mu adalah $ 35,000 untuk suatu tahun [yang] tertentu dan kamu
menyokong $ 5,000 [bagi/kepada] suatu SEP, pajak pendapatan [yang] pemerintah
pusat mu akan [jadi] dihitung pada [atas] saja $ 30,000. Mengumpamakan suatu
28% tanda-kurung pajak, yang [itu] [menyelamatkan;menabung] kamu $ 1,400 di
(dalam) pajak. Kamu kemudian bisa menginvestasikan uang itu [yang] secara
langsung ke dalam pengunduran diri rekening/tg-jawab mu.
Bagaimana cara SEPS mohon ke pemilik bisnis
kecil?
SEPS dapat diatur dengan pen;dukungan
administratif minimal, [karena;sejak] tidak ada sistim pelaporan diper;rumit.
masing-masing Karyawan menetapkan IRA nya atas untuk menerima SEP kontribusi,
dan karyawan masing-masing adalah bertanggung jawab untuk memilih investasi
nya. Sebagai tambahan, pemberi kerja dapat menentukan ketika dan jumlah apa
[yang] untuk berperan untuk karyawan TERPOTONG.
ALINEA TERLALU BESAR.
Apakah aku
harus menyokong jumlah yang sama [bagi/kepada] semua karyawan?
Tidak (ada). Kamu tidak mempunyai untuk
menawarkan dolar [yang] sama yang tepat berjumlah karyawan masing-masing.
Bagaimanapun, kamu *apakah diperlukan untuk menyokong yang sama persen dari
ganti-rugi untuk semua karyawan dapat dipilih. pemberi kerja Kontribusi tidak
[boleh/akan] melebihi yang lebih sedikit untuk 15% dari suatu individu
ganti-rugi karyawan atau $ 24,000.
Apakah [yang merupakan] hal yang memenuhi
syarat petunjuk karyawan?
Karyawan dapat dipilih meliputi karyawan tidak perserikatan/pipa sambung [siapa] yang
sedikitnya 21 tahun usia, sudah*sudahkah bekerja untuk kamu sedikitnya 3
[menyangkut] 5 tahun [yang lalu/ terakhir] , dan sudah*sudahkah berpendapatan
sedikitnya $ 400 maY yang lampau tahun.
Ketika kaleng [yang] kamu menyediakan suatu
SEP Rencana?
[Seperti;Sebagai;Ketika] pemberi kerja, kamu
mempunyai sampai tanggal jatuh tempo untuk kembalian pajak bisnis mu (
perluasan lebih) untuk menyediakan suatu SEP. Untuk menetapkan suatu SEP, kamu
harus tanda [adalah] suatu persetujuan adopsi. Sekali ketika rencana adalah
disediakan, semua karyawan dapat dipilih ( termasuk (diri) sendiri) dapat
menetapkan IRAS untuk menerima SEP kontribusi.
[Siapa] yang aku dapat [sebut/panggil/hubungi]
jika aku ingin mempertimbangkan mengembang;kan suatu SEP rencana untuk bisnis
ku?
penasehat investasi dan Akuntan mu dapat
membantu kamu menentukan jika suatu SEP adalah pilihan yang terbaik untuk
bisnis mu. Mereka akan memperhatikan profitabilitas bisnis mu, dasar karyawan
mu, dan bagaimana suatu SEP menyamakan dengan lain rencana pension pilihan. hal
Yang penting adalah untuk start sejak dulu mungkin. Di (dalam) tahun [yang]
yang awal [dari;ttg] bisnis mu, arus kas tidak mungkin pada [atas] sisi mu,
tetapi waktu nya. Ambil keuntungan dari tentangnya! Ikat[lah . kepada
pembayaran diri anda dulu. Kembang;Kan[lah suatu rencana yang akan memungkinkan
kamu untuk [tinggal/hidup] lifestyle [yang] kamu ingin ketika kamu mengundurkan
diri. Tidak ada waktu seperti saat ini ke rencana untuk masa datang!
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