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Author: rehobothfool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 72263  
Subject: Re: Self-Employed Tax Deferred plans?p Date: 5/20/2001 9:20 PM
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Having been self-employed for the past 20 years I have spent a lot of time looking into all the ways to save money and highly recommend the SIMPLE-IRA. You can put up to $6000 plus per year into it. You can also put an additional $2000 into a Roth-IRA, (phased out gradually if you make too much $). Of course the Roth is non-deductible but you do get to buy/sell without paying any capital gains while in the Roth AND you get to take the money out at retirement tax-free (because you didn't get a tax-deduction for putting it in). You do have to pay taxes on the SIMPLE on withdrawal just like a regular IRA.
Maybe you were looking to put more money away than this but I've found it perfect for our small 2-person business and I don't need a professional to administer the plan. Mine is through ETrade.
Regards
Denise
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