Three Easy Pension Plan Options For Small Businesses
Posted in How to start a small business on October 24th, 2009Procrastinating about setting up a pension for your small business? Don’t. Some easy options let you cheaply prepare for your retirement. . . and let you help employees, too.
Easy Option #1: Don’t Forget About A Regular Old IRA
Here’s the first thing to consider–even though it sounds like a wimp-out: Maybe you shouldn’t setup a pension plan all at for your small business. Maybe you should just use an individual retirement account, or IRA, and encourage employees to do the same.
You might even specially budget bonuses for yourself and for employees that get paid at year-end when people may be thinking about tax deductions.