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Simple Ira Salary Deferral Election Form

Simple Ira Salary Deferral Election Form

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Instructions and help about simple ira deferral form

today we're gonna talk about this simple IRA if you're a small business owner that wants to reduce taxes offer a retirement plan increase employee retention and wants to control the costs of the bottom line this video is for you if you're new to our channel or haven't subscribed be sure to click on the bell at the bottom my name is Travis sickles certified financial planner with sickled hundred financial advisors the simple IRA stands for savings incentive match plan for employees IRA individual retirement account this is one of the simplest retirement accounts that you can open up for your small business because there's not a whole lot of filing documents required it's actually only one of two it's the 5305 - simple or the 5304 - simple one of the two that you need to fill out in order to start the plan the simple IRA contributions are pre-tax so they're actually going to reduce your overall tax liability as an employer or an employee you can contribute up to twelve thousand five hund

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