Article in Summary:
- Selecting the right type of retirement plan if you self-employed can be complicated
- Your choices include: IRA/Roth IRA, Solo 401k, Simple IRA, SEP-IRA, and Keogh Plan
While the tax code provides several provisions to encourage self-employed individuals and small business owners to save for retirement, selecting the right type of plan can be a complicated process. The good news is that the correct plan can help you save a significant amount of money toward your retirement and provide generous tax advantages as well.
Set forth below is a summary of the various retirement plan options, including a …Read More