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|I am a business owner, what are my options?
By The-Adviser.com -
Department of Labor's Pension and Welfare Benefits Administration offers a web site that
provides small business owners with answers to a variety of commonly asked questions about
retirement savings plan options. Using an interactive form, business owners answer a
series of questions about their business and what their goals are in creating a retirement
plan. The site responds with a list of possible options to help business owners determine
the program that is most appropriate for business.
The site also includes a retirement savings program comparison chart that looks at key advantages of each program, employer limitations and responsible, funding responsibility, maximum annual contributions, vesting and other issues. The chart also features a links to necessary IRS forms to begin. Click here to go to the site.
If you are new business owner and feeling overwhelmed by the thousand of options available - an independent Fee-Only financial adviser can help you get started.
Business owners have specific tax planning issues.
There are many retirement plans designed for small business owners
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