SEP - IRA Plans
As a Denver business owner, if you are looking for larger, tax-deductible contributions than those offered by a SIMPLE plan, you may want to consider a SEP - IRA Plan. A SEP-IRA (Simplified Employee Pension plan) is one of the easiest small business retirement plans to set up and maintain.
The contributions are funded solely by the company and are always 100% vested. The SEP - IRA permits you to contribute up to 25% of compensation ("earned income" for the self-employed) up to a maximum of $46,000 in 2008. There is little administration for you to do, and no tax filings are required. SEP-IRAs are the most flexible type of plan you can establish, because you can set them up after your tax year is over on your tax filing deadline - usually April 15, plus extensions. Contact Scott Brookes, AIF®, for more information.
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