Retirement Services & Financial Advisors​ - Serving Columbus & Beyond

Have You Considered a Simple or Payroll Deduction IRA?

Submitted by Life, Inc. Retirement Services on November 4th, 2019

SEP IRA Simple IRA 401k plans 401k for Small Business Owners Small Business Retirement Plans Tax Savings

You'd like to offer some type of retirement plan.  You've looked at several options including a 401(k) plan.  You just aren't sure which option to choose. Have you considered a payroll deduction IRA or a Simple IRA?

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2019: Contribution Limits Have Been Raised! Are You Taking Full Advantage as an Employer?

Submitted by Life, Inc. Retirement Services on February 28th, 2019

SEP IRA Simple IRA Fiduciary Advisor 401 k Plan Providers Tax benefit to Small Businesses Tax Changes Business Owner Retirement Plan

We are in the thick of tax season and many are questioning if they were able to find enough tax savings. This is a great time to start considering your savings plan for the coming year. Chances are your employees are thinking the same, so this is the time to educate them on opportunities this year.

The IRS has announced an increase in contribution limits for certain plans and we are excited. Here is what you need to know (and some food for thought):

Defined Benefit Plans: We’ve seen a few limit increases between 2018 and 2019. The limit in 2018 increased to $220,000 and to $225,000 in 2019. This can be a great plan for high earners, especially if you are self-employed!

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The Advantages of a 401k over a SEP or SIMPLE for Business Owners

Submitted by Life, Inc. Retirement Services on January 5th, 2015

401k Advisors plan design Fiduciary Duties Solo 401k SBO-401K SEP IRA Simple IRA Fiduciary

For business owners, there’s no shortage of retirement plan options, each with the capacity to accept larger contributions than individual or employee plans with commensurate tax advantages. Until recently, the default options for many business owners had been the Simplified Employee Pension (SEP IRA) or the Savings Incentive Match Plan for Employees (SIMPLE IRA) chosen in large part for their low cost and simplicity. However, for business owners in the right situation, the 401k plan is quickly becoming the plan of choice for its even greater capacity and flexibility.

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