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Simple IRA Services for Utah Small Businesses

Q: Why do doctors, dentists & other small business owners start SIMPLE IRAs?
A: Potential tax-deferred retirement income & tax breaks.

Self-directed SIMPLE IRAs can become great retirement savings vehicles – and they may also give your business some tax relief.

How does a SIMPLE IRA work? A Simple IRA is set up for you and your employees, funded by pre-tax salary reductions. The annual contribution limits can be much higher than that of a traditional or Roth IRA. These limits are subject to cost-of-living adjustments, so they may rise over time.

As your employees defer salary into their Simple IRA, you can either match their contributions up to 3% of their annual compensation or just contribute a flat 2% of their compensation into the account per year.

Employees are always 100% vested; salary deferrals into the Simple IRA are purely elective. Participants can invest Simple IRA assets in many different ways, and those assets benefit from tax deferred growth until they are distributed.

These plans don’t normally require IRS filings and are easy to run. In fact, your business may be eligible for a tax credit of up to $500 per year for the first three years the plan is in place per IRS Form 8881.

Do you want a high-contribution retirement plan that is easily administered? Then we invite you to learn more about the SIMPLE IRA. Please feel free to call us today or click here to get started.

The Introduction To Prosperous Investing — The First Appointment


Once you schedule your
Introduction To Prosperous Investing, we will send you a short first appointment questionnaire within 24 hours.  The first appointment questionnaire gives us a brief overview of your current situation, what your top concerns are, and will helps us better understand your investment experience.  To schedule your first appointment, simply call us at 801-545-0696 or click, Let’s Begin. 

 

Enjoy retirement as you’ve always envisioned

We’re here to help, no matter where you’re starting from!

© 2024 Stonecreek Wealth Advisors, Inc. A fiduciary, independent, fee-only, Registered Investment Advisor

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