Retirement Plans for Small Businesses Self-Study

Summary

Help taxpayers determine which type of retirement plan is the best choice for their small business. Numerous options are available to save for retirement with different tax implications for each. Options include those that offer current tax savings and others where the retiree does not realize a tax benefit until they start drawing funds from the plan. In addition, some plans require the employer to match contributions and others do not. Learn about the different retirement plans available for small businesses, such as self-employed pension plans (SEP), savings inventive match plans for employees (SIMPLE) and 401(k) plans, and the tax reporting for each.

Objectives

Upon completion of this course, you will be able to:

• Identify the features of SEPs, SIMPLE IRAs and 401(k) plans
• Calculate the maximum contribution for various types of retirement plans
• Compute the deduction for various types of retirement plan contributions
• Identify the employer’s responsibility for maintaining and funding retirement plans
• Distinguish between the tax treatment of sole proprietors, partnerships and corporations with regard to retirement plans

Course Details

This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.