In setting up a SEP, you have to decide what percentage of compensation you'll use to determine your SEP contributions. This number, known as a contribution allocation formula, is really just a fancy ... |
The simplest means of setting up IRAs, including those in SEP plans, is to contact a bank, savings and loan association, insurance company, federally insured credit union, brokerage house, or mutual ... |
The IRS has developed an extremely helpful one-page tax form that meets all the requirements of a SEP plan. It does not require any special document preparation other than simply filling in a few ... |
If you set up a SEP plan, all eligible employees must be given the following information: |
If you have a SEP, the law mandates that any employee who has reached age 21, has worked for you in at least three of the preceding five years, and has received at least $450 from you for the year ... |
The law says that the maximum annual contribution you can make to a SEP is the lower of 25 percent of an employee's pay up to $220,000, or $44,000 for 2006 ($210,000 or $42,000 for 2005; these ... |
When an employee becomes vested in a retirement plan, it means that he or she has participated in a plan long enough or has provided enough years of service to an employer such that the employee ... |
Salary reduction simplified employee pension plans (SARSEPs) are a type of pension plan that, as of 1997, are no longer available. Those who already have such plans can continue to contribute to ... |
A qualified plan for the self-employed is referred to as a Keogh plan. |
If you operate in the form of a sole proprietorship or a partnership, you're considered "self-employed" and thus ... |
