{"id":462,"date":"2014-09-14T02:28:38","date_gmt":"2014-09-14T02:28:38","guid":{"rendered":"https:\/\/0c8fb60.netsolhost.com\/en\/?p=462"},"modified":"2022-11-17T02:35:56","modified_gmt":"2022-11-17T02:35:56","slug":"248-2014-simple-ira-set-up","status":"publish","type":"post","link":"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/international-taxation\/248-2014-simple-ira-set-up\/","title":{"rendered":"2014 SIMPLE IRA SET UP"},"content":{"rendered":"\n

Who:<\/em><\/strong>  All employers interested in retirement plans (this is what we do)<\/p>\n\n\n\n

What:<\/em><\/strong>  Simple IRA\u2019s<\/p>\n\n\n\n

When:<\/em><\/strong>  Can sign up until September 30, 2014<\/strong> for new plans <\/strong>and fund later.<\/p>\n\n\n\n

Why:<\/em><\/strong>  <\/strong>Cause you are going to want to retire someday. It is never too early nor too late to start.<\/p>\n\n\n\n

How Much Can an Employee Contribute:<\/em><\/strong> <\/p>\n\n\n\n

Up to $12,000 per employee plus $2,500 if over age 50. THAT IS EMPLOYEE MONEY<\/em><\/p>\n\n\n\n

 How Much Must the Employer Match:<\/em><\/strong> <\/p>\n\n\n\n

                Our suggestion is the employer adds the lower of:<\/p>\n\n\n\n

               3% of wages or whatever employee contributes<\/strong><\/p>\n\n\n\n

               (This is a low cost way to implement a significant employee benefit<\/em>)<\/p>\n\n\n\n

                   Example:<\/em><\/p>\n\n\n\n

                   Employee earns $30,000 x 3% = $900 is the maximum exposure the employer must match.<\/p>\n\n\n\n

                   If the employee puts in nothing, the employer puts in nothing.<\/p>\n\n\n\n

                   If the employee puts in $5,000 (employee\u2019s money), employer can only put in $900.<\/p>\n\n\n\n

                   If the employee put in $300, the employer can only put in $300.<\/p>\n\n\n\n

To Know More:<\/em><\/strong> <\/strong><\/p>\n\n\n\n

Call Lonnie Young  (407) 936-2500 x107<\/p>\n\n\n\n

for Tax Implications and W2 Reporting Requirements (easy).<\/p>\n\n\n\n

This is an easy no administrative cost<\/strong> solution to having an employee retirement benefit.<\/p>\n\n\n\n

                   Additionally, since the employee picks the individual investment, there is no fiduciary<\/p>\n\n\n\n

responsibility on your part for investment performance.<\/p>\n","protected":false},"excerpt":{"rendered":"

Who:  All employers interested in retirement plans (this is what we do) What:  Simple IRA\u2019s When:  Can sign up until September 30, 2014 for new plans and fund later. Why:  Cause you are going to want to retire someday. It is never too early nor too late to start. How Much Can an Employee Contribute:  Up to $12,000 per employee […]<\/p>\n

Read More… from 2014 SIMPLE IRA SET UP<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,17,18],"tags":[],"class_list":["post-462","post","type-post","status-publish","format-standard","hentry","category-international-taxation","category-retirement-accounts","category-sub-s-corporations"],"yoast_head":"\n2014 SIMPLE IRA SET UP - USA Tax Help<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/international-taxation\/248-2014-simple-ira-set-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2014 SIMPLE IRA SET UP - USA Tax Help\" \/>\n<meta property=\"og:description\" content=\"Who:  All employers interested in retirement plans (this is what we do) What:  Simple IRA\u2019s When:  Can sign up until September 30, 2014 for new plans and fund later. 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Why:  Cause you are going to want to retire someday. It is never too early nor too late to start. 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