The #1 Perk for Small Businesses

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Volume 2 Issue 35 September 2, 2008 #1 Perk for Small Business Access to a variety of tax-advantaged retirement plans is a top perk of owning a business. Most are easy to set up, cheap to maintain, and allow you or your business to make tax-deductible contributions. This issue of WhatWorks delivers the good news about pension plans for small biz, including small business 401(k) plans, special plans for high-income entrepreneurs and much more, plus help terminating a plan or starting a new business once you've retired. For updates on the latest ideas, trends and solutions for small business, visit the new Technology Channel and Money Channel pages at our sister site Business.com, where you'll find anything and everything for your business in 65,000 categories. – Daniel Kehrer, Editor Not Just for Big Biz 401(k) Plans for Small Business By Irwin Speizer One of the most powerful perks you can offer your employees is a pension plan, and one of the most popular types is the 401(k). Named after an IRS code section, the 401(k) allows your employees to fund their own retirement through pre-tax contributions. If you can afford it, you can provide matching contributions. Both you and your employees get a tax break for contributing. A good 401(k) plan can: Read Full Guide Your Plan Choices Menu Guide to Small Business Pensions By Greg Brown Sooner or later, retirement is upon everyone, ready or not. Small business owners face a double challenge: finding and keeping people who matter long term to their business, and funding a personal nest egg for the day their own retirement comes. Although the plans (and obscure government acronyms) are plentiful, the bottom line is this: Read Full Guide For Solo Operators Defined-Benefit Pension Plans for Sole Proprietors By Constance Gustke Defined-benefit pension plans are best suited to high-income entrepreneurs over the age of 45 who are able to sock away lots of money fast - up to $175,000 annually. With such a plan, you set a target level of annual benefits you want to receive at a target age and then make contributions based on actuarial projections. The downside, however, is that these plans are more complex and costly to administer... Read Full Guide An Un-Retirement Solution Starting a Post-Retirement Business By Matt Alderton According to AARP research, record numbers of men and women over the age of 50 - and even 60 and 70 - are starting their own businesses in search of a life, and a livelihood, after retirement. Seniors have some serious advantages over their younger counterparts when it comes to starting a business, including these: Read Full Guide If You Have To Terminating a Retirement Plan By Wendy Davis Retirement plans are supposed to last indefinitely. But there may come a time when you need to end your company's plan. You might merge with another business, for example, or decide to shutter operations. If you do opt to terminate a retirement plan, be aware that the IRS might hit you with a hefty tax bill if it decides that the plan was never intended to be permanent... Read Full Guide		Get a Daily Guide Feed Click here to subscribe to our free newsletter Share the knowledge -- Forward this issue to a friend! How-To Guides on Work.com 1 7 1 7 2 (more daily!) FAST TRACK Quick reads, hot topics and cool tools for your business Post Your Projects: Sologig is a great place to find independent contractors, freelancers and consultants with varying expertise. Top fields include: IT, accounting and finance, engineering, data entry, design, writing, editing and others. Post your project and find qualified candidates tomorrow. Outsourcing Idea: How about your own full-time dedicated employee for $897/month? Not a problem if you don't mind the person being in the Philippines. SupportSave, an American-managed facility in the Philippines offers low-cost offshore outsourcing services to U.S. firms. SOLUTION OF THE WEEK Sales Compensation Plans: Is your sales compensation plan holding you back? Dump that spreadsheet and go high-tech with an Internet solution that can help you design and implement a new plan. Xactly Corporation offers affordable, state-of-the-art, on-demand sales compensation solutions. Employees Government Internet & Ecommerce Legal Management Money & Finance Operations Sales & Marketing Startup Technology Guides by Region Guides by Business Type
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