Visit cpajournal.com to read the very latest from The CPA Journal
October 2013 » One-Participant 401(k) Plans
Full articles of The CPA Journal are available to NYSSCPA members and CPAJ subscribers ONLY. Please login to access this content.
Nonmembers and nonsubscribers, you can apply for NYSSCPA Membership here and get unlimited access to The CPA Journal, or you can create a non-member online account here and purchase individual articles.
Sal Favarolo
Owners of small businesses with no employees, except perhaps a spouse, often use a simplified employee pension (SEP) plan, a business retirement plan that allows for larger contributions than a traditional individual retirement account (IRA). Because of this larger contribution limit and the ease of implementation, tax professionals often recommend SEP plans to such business owners. But many sole proprietors and tax professionals do not realize that another option—the one-participant 401(k) plan (i.e., the “solo-k,” “uni-k,” or “individual 401[k]”)—can allow even larger contributions and, thus, even greater tax deferral.
Advertising with the NYSSCPA is your opportunity to reach the greatest number of business advisors in the most important business state in the nation.
Post a resume or job listing in our Career Center to connect with hundreds of employers or job seekers.
Join 21,000+ of your peers. Apply for membership today!
Find CPE Conferences, Seminars, and Online Courses Here.
Get insight and analysis into all areas of the profession.
Content provided by and exclusively for NYSSCPA members.
Stay up to date with important NYSSCPA news.
A daily roundup of the latest from around the accounting and financial industry.
A strong PAC means a strong profession. Donate Today.
Help develop a strong network of connections.
A resource for NYSSCPA Members.
Members, Get expert answers to technical questions.
Start your career off right with an experienced mentor.
It's never too early to start thinking about your career.