Entries filed under 'SIMPLE IRA'

    Small-Business Retirement Plans: Explore Tax Credits

    March 24, 2017 12:18 PM by Brian Dobbis

    Certain business owners may be eligible for tax relief in the form of credits in connection with establishing a retirement plan.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Many small businesses are unaware that they may be eligible for a tax credit in connection with the establishment of a group retirement plan. The small-business tax credit offsets some, if not all, of the start-up expenses credit for establishing and administering certain retirement plans. Not surprising, a recent survey by Pew Charitable Trusts shows that 71% of small- and medium-sized businesses don’t offer retirement plans, in part because they’re too costly to set up.1  (See Chart 1.)

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    SIMPLE IRA Rules of the Road

    September 15, 2016 12:58 PM by Brian Dobbis

    While SIMPLE IRAs have come a long way in 20 years, the rules may sound complex at times. Here’s a refresher on salient guidelines. 

    THE ROAD TO RETIREMENT with BRIAN DOBBIS

    Are you ready for some SIMPLE advice? I’m talking about the acronym for the Savings Incentive Match Plan for Employees (SIMPLE), which turns 20 this year. And I keep getting questions on the road that make SIMPLE IRA plans sound more complex than they really are.

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    SIMPLE IRAs: Now Even Simpler

    March 3, 2016 4:45 PM by Brian Dobbis

    Rollovers are now easier under recent legislation that gives SIMPLE IRAs full portability.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    When it comes to acronyms and alphanumeric abbreviations for retirement plans, nothing is as simple as SIMPLE IRAs. That’s because “SIMPLE,” in government-speak, is short for Savings Incentive Match Plan for Employees of Small Employer. And Congress has made the advantages of SIMPLE IRAs, well, simpler.

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    SIMPLE IRA Rollovers and Distributions: Proceed with Caution

    September 24, 2015 5:12 PM by Brian Dobbis

    Failure to observe holding rules for newly established plans can result in stiff penalties. 

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    A SIMPLE IRA can serve as an attractive retirement-savings vehicle for small-business owners and their workers. But plan simplicity may become slightly more complicated for the uninformed when it comes to taking distributions.

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    Simple Answers to SIMPLE Questions

    September 18, 2015 11:10 AM by Brian Dobbis

    As the October 1 deadline for establishing SIMPLE IRAs draws near, here are answers to frequently asked questions about establishing and maintaining these popular retirement plans.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Shorter days and changing foliage remind us that autumn is approaching and, with it, some important IRA-related deadlines. Primary among them is the October 1 deadline for employers to establish SIMPLE IRA plans for 2015. SIMPLE plans established after October 1, 2015, will not take effect until January 1, 2016, at the earliest, for that year. 

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    SIMPLE IRA or 401(k)? A Side-by-Side Comparison

    September 11, 2015 2:20 PM by Brian Dobbis

    Small-business owners who want to establish retirement savings plans for themselves and their workers have several options. Our at-a-glance comparison evaluates the two most popular plans.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Choice, flexibility, and affordability are among the characteristics self-employed individuals and small-business employers should consider when they decide to establish a retirement savings plan for their workers and themselves. 

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    Saving for Retirement? The Answer is SIMPLE

    September 4, 2015 9:50 AM by Brian Dobbis

    SIMPLE IRAs are flexible, cost-effective, and low-maintenance, making them great starter plans or 401(k) alternatives for small employers. The deadline for implementing 2015 accounts is approaching.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Advisors who have entrepreneurs and small-business owners as clients or prospects frequently are asked for advice on how to establish a retirement savings plan that will be attractive to their workers and, at the same time, affordable to their clients. 

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    SIMPLE IRA Distribution Rules Actually Are Not

    May 7, 2015 3:40 PM by Brian Dobbis

    As with other types of individual retirement accounts, SIMPLE IRAs are subject to rules governing withdrawals—but they have one caveat the other types do not.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    SIMPLE IRAs are designed specifically for small businesses and their employees. They are relatively easy to establish and maintain; they allow for flexible plan design and participation; and they don’t require IRS 5500 reporting or government testing, all of which makes them an attractive retirement savings vehicle for small-business owners and their workers. But the appealing simplicity of this type of IRA may become slightly more complicated when it comes to withdrawing from the retirement accounts. 

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    SIMPLE IRAs: Answers to Frequently Asked Questions

    September 25, 2014 3:08 PM by Brian Dobbis

    As the deadline approaches for small businesses to establish SIMPLE IRAs in 2014, here are answers to some of the top questions from plan sponsors and advisors.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS

    SIMPLE IRAs are low-cost, hassle-free retirement plans for small-business owners who have fewer than 100 employees, and who don’t sponsor any other qualified retirement plans. With the deadline for establishing a SIMPLE plan in 2014 approaching, I thought it might be a good idea to answer some of the questions I am asked most often by financial advisors.

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    SIMPLE IRAs Versus 401(k) Plans: Options for Small Businesses

    September 19, 2014 4:15 PM by Brian Dobbis

    There are multiple retirement plan options for small-plan sponsors. We offer an easy-to-use, apples-to-apples comparison of the two most popular plans.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS

    Small-business owners who are thinking about establishing a retirement savings plan for their workers are right to focus on considerations such as choice, variety, and flexibility.  There are numerous retirement plans available to small-business owners, but the two most popular are SIMPLE IRAs, which are available to employers with 100 or fewer workers, and 401(k) plans.  Choosing the right plan for you or your client involves making some important decisions. Determining which plan will be more effective for a small business and its workers depends upon the size of the company, employee demographics, plan objectives, and employers’ goals, among other things. 

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