No. of Recommendations: 0
Greetings, Shdow, and welcome.

<<Are there any options in starting a retirement plan for a household employee? She would like to put as much money as possible into a tax-deferred account, and I'd like to help her - both for her benefit and to reduce our taxes. If I have any such options, is it possible to offer an employer match to her contributions that would not count as taxable income (obvious advantage - we don't have to pay FICA)? >>

None that I know of. Although you are an employer and you pay FICA and make withholdings on her behalf, you're not a business. Thus, there's no retirement plan as such you as the employer can establish for the purposes of making a match. About the best you're gonna do IMHO is to give her the $2K for a deductible IRA contribution and tell her that's over and above her normal wages.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
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.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.