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The Difference Between an IRA and a Roth IRA

Posted in Tax News on February 4, 2011

Deciding whether to open an IRA or  a Roth IRA is a major decision with potentially large financial consequences. Both forms of the IRA are great ways to save for retirement, although each offers different advantages and rules. 

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Do I have to File IRS Form 5500?

Posted in Tax News on July 2, 2010

Employers that maintain a qualified retirement plan must file IRS Form 5500–Annual Return/ Report of Employee Benefit Plan.  Qualified retirement plans include defined benefit, profit-sharing, money purchase, and 401(k) plans.  SIMPLE and SEP plans do not have to file this…

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Self- Employed and Looking for a Last Minute Tax Deduction? Consider a SEP.

Posted in Tax News on March 13, 2010

A Simplified Employee Pension (SEP) is a retirement plan that self-employed people should take a look at.  To adopt a SEP plan an employer needs to complete IRS Form 5305-SEP.  This form is not filed with the IRS; the employer…

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SIMPLE Retirement Plan…A Great Retirement Plan for Small Businesses

Posted in Tax News on February 19, 2010

The most popular retirement plan adopted by businesses is the 401(k) plan.  However, there are other options for business owners.  For some small businesses, the SIMPLE plan makes the most sense.

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