Retirement Plan for Small Business -- 401(k) or SIMPLE-IRA?
Small business owners who want to provide their employees with a way to save for retirement in a tax-efficient manner have several different options and plans to choose from -- from very simple and low-cost plans to very complex and expensive ones. Today, I will discuss traditional 401(k) and SIMPLE-IRA plans, which are both very common in the marketplace. 401(k) Plan Section 401(k) of the Internal Revenue Code was enacted in 1978 after years of confusion among taxpayers and
S-corporation Shareholder Health Insurance
Businesses operating as S corporations have many of the same benefits of pass-through taxation as partnerships or LLCs taxed as partnerships. In addition, however, S corporations have always had unique issues with respect to health insurance premiums paid to (or on behalf of) their shareholders who own more than 2% ownership interest. With the Affordable Care Act (ACA), even more issues have arisen with respect to health insurance, and S corporations are especially affected b