| "body"> | | | | enough information to set one of these up yourself, |
| One of the best possible things you can do to | | | | any financial advisor, or even the officers at your |
| provide for your retirement years is to set up a small | | | | bank should be able to set one up for you quite |
| business. Between the tax benefits you can receive, | | | | easily and the going rate appears to be between |
| to the fact that you can often make a tidy sum of | | | | three and four hundred dollars. I |
| money, owning a small part time home based | | | | wholeheartedlybelieve you should explore this. |
| business is without a doubt one of the best things | | | | Right off the bat you are allowed to put up to 12K |
| you could ever do. But this letter isn't about that | | | | dollars in your 401K plan. That's a very healthy chunk |
| specifically; we'll get into that as the year goes on. | | | | right there, but wait it gets better. You are also |
| What I do however want to suggest is a "plan" that | | | | allowed to donate up to 20% of your income into |
| you can set up for your retirement goals. | | | | this thing under the profit sharing side of the |
| If you are a sole proprietor of a small business and | | | | equation. So as you can see, if you claimed say 60K |
| you make less than 200K dollars a year, you can | | | | dollars worth of income, you could put the upwards |
| qualify for a retirement plan called a " combo Sole | | | | of 24K dollars a year into this plan. That's right off |
| owner / 401K profit sharing plan". I know that's a | | | | the top, dollar for dollar donations folks. |
| mouthful, but it's important to realize that this thing | | | | For those of you who own your own small business, |
| exists. Why? Because you can dump a ton of money | | | | this is one of the most aggressive plans I've ever |
| in it. | | | | seen, and if you need a good vehicle to shelter some |
| Although you can indeed search the web and find | | | | tax money, I can't think of much better. |