Section 408 of the Internal Revenue Code codifies simplified employee retirement plans. This section of the code allows for the employer to establish low documentation, limited compliance forms of employee retirement plans. In effect, the business sets up Individual Retirement Accounts for employees and allows the employee and/or employer to contribute money to these accounts.
There are several different retirement plans available to the small business owner. But no plan offers so many advantages to small business as the Simple retirement plan. The positive attributes include: 1) Easiest to understand, […]