Looking at Retirement programs for the company. Any experience or thought on doing an SEP or Simple IRA program?

Is there a lot of administrative responsiblility or cost with the SEP?

I understand the Both give the owner a chance to do a lot more for himself than a standard IRA, plus giving a perk to employees and extra attracting power for future employees.

Any input would be appreciated!

Thanks,
John L.

My best friend is a finacial advisor. I talk alot to him
about Ira's. Every time he says the same thing Roth Ira is the way to go. Look at how the money is going to be taxed. A Roth is pretaxed and other Ira's are taxed when you take the money out.


Ralph

For may people, the tax rate will be much lower at retirement time becuase they will be making less money. From this view, the regular IRA makes more sense than the Roth IRA. But each person's situation is different.

The January Cleanfax magazine has an article on "employee leasing" that discusses ways to give retirement benefits and other perks to employees with little hassle. This works for the owner also if he sets himself up as an employee (For example of an S corp or LLC).

Scott Warrington

Scott Warrington
Tech support Bridgepoint & Interlink Supply