1. Is A Solo 401(k) Or An SEP-IRA Better For A Small Business With No Employees?

    Is A Solo 401(k) Or An SEP-IRA Better For A Small Business With No Employees?

    Now that this tax season is over, it’s time to start planning for the next one. If you own a small business, this means you. The U.S. Small Business Administration reports the number of small businesses with no employees increased from 15.4 million in 1997 to 23.8 million in 2014. A business without any employees has a different calculus when it comes to deciding on a retirement plan.

    Read Full Article

    1. You can set up an SEP-IRA plan for a year as late as the due date (including extensions) of your business's income tax return for that year.
    2. If you have an SEP, you can fund it as late as your extended tax return.
    3. If you decide to set up a retirement plan after 12/31, you can only use an SEP-IRA and not a Solo 401(k).
    4. One cannot determine the funding maximums for either plan type until year-end books are completed.
    5. If you are a business owner but make too much to contribute to a Roth IRA, a Solo 401(k) is a way to make a Roth contribution and gain the benefits of long-term tax-free growth.
    6. The great benefit of a Solo 401(k) versus an SEP-IRA is how much you can contribute to the account, especially for those earning a middle-class income.
    7. With a Solo 401(k) plan, employees are eligible if they work more than 1,000 hours. Not so with the SEP-IRA.
  2. Topics Mentioned

  3. Authors

  4. Beacon Promotional Product Web Store


    Click on the picture to go to our web store and find out special of the day.  You can also contact us with any questions.  Email us at:  Sales@Beacon-SM.com


  5. BLN Newsletter Supporters:



    Consulting and Outsourcing, Business development for our clients.

    Beacon now also offers thousands of Promotional Products with your logo.

    We provide our clients with qualified leads.


  6. Robert Williams Leading CPA in OC, CA.

  7. Independent Insurance

    health, Life, Medicare, Long Term Care, Disability & Retirement Planning

  8. Starfish Signs & Graphics

  9. Categories

    1. Balanced Living:

      BLN Blogs, Financial, Good News, Lighter Side of Life, Mental, Physical, Social, Spiritual
    2. Communities:

      Bike, Business, High Tech