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Due to Covid-19 related USPS mail delays of our client statements, late fees for non-payment of Annual Maintenance Fees will not be assessed until Apr. 30th (extended from Mar. 16th) – Learn More
Delivery of our client statements and payments have been impacted due to COVID-19 related USPS mail delays.
In response, Equity Trust has pushed out the date for assessments of late fees for non-payment of Annual Maintenance Fees from March 16th to April 30th. (Due date for the 2020 AMF invoice was Wednesday, March 3, 2021.)
A self-directed small business account at Equity Trust offers you the control and flexibility to choose both traditional and alternative investments.
The Solo 401(k) (also known as Individual 401(k), Self-Employed 401(k), and Solo(k)) is for sole proprietors and offers the same benefits of the 401(k), but it is designated for business in which only the owner (and their spouse) is an employee.
Advantages:
The Individual 401(k) has the option to be set up with the added benefit of Roth-like tax-advantages.
Contribution limits to the Roth Individual 401(k) are the same as the Individual 401(k), but you designate them as Roth contributions. Those contributions won’t be eligible for a tax-deduction, but qualified withdrawals from the Roth Individual 401(k) are tax-free.
Advantages:
Simplified Employee Pension (SEP), is designed for self-employed individuals or small businesses with less than 25 employees. The SEP allows for pre-tax contributions toward retirement without getting involved in a more complex qualified plan such as a 401(k). Contributions to a SEP are tax deductible and compound tax-deferred until withdrawn, pending that the distribution is taken after the account holder reaches 59 ½ years of age. Additional information related to SEP accounts can be found here.
Advantages:
Savings Incentive Match Plan for Employees (SIMPLE) is a plan for small businesses, typically with 100 or fewer employees, that have no other retirement plans. With a SIMPLE plan, contributions are tax deductible and compound tax-deferred until withdrawn, pending that the distribution is taken after the account holder reaches 59 ½ years of age. Additional information related to SIMPLE accounts can be found here.
Advantages:
Try our Small-Business Plan Picker
Do you own your own business? Deciding which small business retirement plan might be right for you can be tricky. To help you figure out what may be best for you, answer a few simple questions about you and your business in our Plan Picker.