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As an employer, you can generally deduct plan contributions as a business expense, including those made to your own account. As a participant, your retirement assets compound on a tax-deferred basis, meaning any investment earnings aren't taxed until withdrawn.Easy, affordable administration
Unlike 401(k)s, small company retirement plans are easy to set up and maintain, with no complex IRS rules, tests or tax filings. The time and expense that would otherwise go toward a retirement plan can instead be invested in your company.Flexible employer contributions
In many cases, contributions can vary from year to year, based on company profitability and cash flow.Favorable eligibility requirements
You can exclude any short-term, seasonal or other workers not meeting income and years-of-service requirements.Enhanced employee relations
As a valued employee benefit, a retirement plan can help you recruit and retain quality workers, improve morale and set your company apart from competitors.
J.P. Morgan Funds offers a wide variety of investment choices to accommodate most any plan participant or retirement need.
Like a company retirement account, personal IRAs and annuities give your investments the potential to grow for the future without being eroded by current taxes.
Consider your business interests when deciding how to invest for retirement, college and other personal goals. For example, if much of your wealth is tied to your company, you may need a broadly diversified investment portfolio that exposes you to unrelated markets, industries and geographic regions.
A qualified professional can help you evaluate and select a small business retirement plan, while also providing advice on personal finances affecting you and your family.
|SEP IRAs||SIMPLE IRAs|
|These accounts are funded solely with tax-deductible contributions from employers or self-employed individuals. They offer the flexibility to increase, decrease or even skip contributions from year to year.||These accounts are designed for companies with 100 or fewer employees. They are funded with a combination of elective employee salary deferrals and mandatory employer contributions.|
After opening your SEP or SIMPLE IRA, consult your advisor or click here for helpful tips on building an investment portfolio to meet your retirement needs. For additional information, you may want to do some research at www.irs.gov, and refer to Publication 560 - Retirement Plans for Small Business.
The information above is not intended to provide and should not be relied on for accounting, legal and tax advice or investment recommendations. The views and strategies described may not be suitable to all readers. Please contact your financial professional or tax advisor for additional information.
IRS Circular 230 Disclosure: JPMorgan Chase & Co. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with JPMorgan Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties.