Thursday, September 18, 2008

Setting up a SIMPLE plan for your Employees

If you are a small business owner and are thinking about setting up retirement plan for their employees, you should be aware of important deadlines coming up in October.

A SIMPLE, or Savings Incentive Match Plan for Employees, must be established by Oct. 1 for 2008 contributions.

Business owners who requested an extension to file their 2007 tax return have until Oct. 15 to set up a SEP, or Simplified Employee Plan and take a deduction for 2007.

Related Links:
Publication 3998, Choosing a Retirement Solution for Your Small Business
IRA Online Resource Guide Order the IRA Resource Guide on CD-ROM
Publication 560, Retirement Plans for Small Business

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