Retirement Planning for the Self-Employed: SEP IRAs vs Individual 401(k)s

There are plenty of advantages to self-employment, but there are also a lot of additional responsibilities that aren’t part of the picture when you’re an employee. One of the biggest advantages and drawbacks is the lack of structure for benefit plans. As a self-employed person (with no other employees), you have the freedom to set your own policies, schedule and so forth. So, you may be wondering where to start when it comes to selecting a retirement plan. We’re here to help.

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401(k) Benefit Plan Audits: What You Need to Know

It’s already midyear, and that means it’s the perfect time to review the audit requirements for your company-sponsored employee benefit plans. One of the most important and complex audits is the annual audit of your 401(k) plan. Here are some general tips and guidelines to help you understand when you’ll need an audit and what to expect during the process.

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Can I Work While Receiving Social Security Benefits?

For various reasons, many people continue to work while collecting Social Security retirement benefits. Some people need the additional income while others simply enjoy keeping busy. In 2016, Associated Press reported that more than 4 in 10 Americans over 50 years of age begin taking Social Security benefits before retirement age. Whatever the reason, there are important tax implications to consider should you choose to work while receiving Social Security benefits.

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The Truth About What Happens to Account Funds After Death

It’s awkward. And complicated. And emotional. But dealing with what happens to your estate after your death is an unavoidable and essential task. Like many people, you may have consulted an estate attorney to create a trust and will, ensuring that assets pass along to selected family, friends or institutions. However, like many people, you may not realize there is another step to take. A step that, if missed, could mean your wishes are not followed or your beneficiaries pay more taxes or wait longer to have access to their inheritance.

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