SEP IRA

Archive for November, 2006

Question: Why does it seem that conservative woman seem to lack creativity and imagination?

Even when it come to crafts they always use a pattern. Usually designed and developed by a Liberal.
And when it comes to simple yes or no answers they always have to ask their Conservative husband first .
Are they the real Stepford Wives
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The Stepford Wives – Wikipedia, the free encyclopedia

Answer: It is difficult to craft an answer to such a generalization. The reality is that most politicians wives are stiff and ask their husbands what their opinions should be. This is part of building the husband’s career. The reality of being Conservative is defending the status quo, this really doesn’t take imagination it takes gumption. As for being “Stepford Wives” I say that is going a bit far.

Ira Krakow’s Blender 2.49b Hat Creation Tutorial

Question: My small business plans on hiring employees next year. Do I go with 401k or SEP IRA to maximize savings?

When do you go with a 401k? When do you go with a SEP IRA? What are the pros and cons here? Thanks!

Answer: SEP IRA only applies to the business owners where as 401K is for the employees.

Financial Services Corona CA: Life Insurance, Investments, Mutual Funds, 401k, IRA, Annuity

SIMPLE IRA Eligibility Requirements, Continued

• The 2 year/$5,000 compensation requirement is the maximum Eligibility an employer may require. The employer may elect to decrease the number of years of service or the compensation requirement or both.

For example, an employer can require that an employee worked in one prior year, and made only $3,000 in that year.

• Any Eligibility Requirements the employer sets in the SIMPLE Plan apply to all employees, including the business owner.

For example, an employer started her new business, ABC Corp., on May 31, 2003 and established a SIMPLE IRA Plan effective for 2004. The maximum years of service the employer can require is one year.

What information does financial Institutions usually provide SIMPLE IRA Account owners?

To employees :

• Quarterly Account Statements (statements are sent monthly whenever there is account activity or a Contribution is made to the employee’s account.
• IRS Form 5498 showing total Contribution amounts made during the calendar year and Fair Market Value (year-end account value) of the SIMPLE IRA Account.
• IRS Form 1099-R if a distribution was paid to the SIMPLE IRA Account owner.
• Annual Summary of SIMPLE Plan Rules is sent once a year to all SIMPLE IRA owners.