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401k for Realtors Offers Tax Advantages and Loans
| | Monday, September 12, 2005 @ 08:47 PM EDT
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Send this Story to a Friend | Contributed by: jwasho
jwasho Properties
Read more archived articles about Tax Strategies
Are you still using SEP IRA’s?
The 2001 Tax Act created an opportunity for realtors and others in the owner only category to increase contributions to retirement plans. The Tax Act makes individual 401(k) plans an attractive alternative to SEP IRA’s. The individual 401(k) is a profit-sharing plan and 401(k) combined. A self-employed business owner, with no employees, can add salary
deferral to their profit-sharing contributions for large tax deductions they can keep! If you are a realtor, or are like several other professionals operating owner only businesses such as attorneys, architects, doctors, consultants, and accountants; you may be able to take advantage of this type of retirement plan.
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the advantages retirement large several deferral loans ira’s. using plans. other realtors business keep! only owner alternative self-employed profit-sharing category able take attorneys,
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