UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next
Author: pension7ed Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76238  
Subject: Re: pension options Date: 4/15/2000 2:32 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Hi Maria
<<I have a small business that is incorporated and I am the sole employee of it. What are my pension options besides IRA's? Any suggestions are welcomed.>>

Besides SEP, Profit Sharing Keogh's that are limited to 15% of Pension Pay, and besides Money Purchase Keoghs that are limited to 25% of Pension Pay, there are also Defined Benefit plans that, for workers over age 45, can produce much higher percentages. You'll need a qualified pension actuary to work with you, but you will like the deductions:

With a Net Schedule C of $20,000 at age 55, (making the proper Self Employment tax adjustments to net income):

Profit Sharing $2,424
Money Purchase 3,717
Defined Benefit 8,849

by - Your friendly pension actuary.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next


The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Value Hounds

Considerable Headwinds for Profire Energy?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.