Surgent's Features and Benefits of SEP IRAs and SIMPLE IRAs
Overview
A challenge for many small business owners is choosing the `right’ type of retirement plan for their businesses. Many hesitate to adopt retirement plans for their businesses because they are intimidated by the governing rules. In those cases, SEP and SIMPLE IRAs are reasonable solutions because they are easy to establish, maintain, and communicate with employees; have minimal administrative costs; and are practical and efficient ways to start a retirement plan. These IRA-based plans - SEP IRAs and SIMPLE IRAs - have low maintenance costs and are easy to communicate to employees.
With IRA-based employer plans, employer contributions are sometimes discretionary, giving business owners the choice of whether to fund every year. Despite the simplicity of these plans, employers must ensure that applicable compliance requirements are met to avoid penalties. To that end, this course will cover some key provisions of SEP and SIMPLE IRAs.
Delivery Method: Individual webcast
CPE Credit: Taxes
Program Level: Basic
This course is being offered by a 3rd party vendor and will not be accessible on your My CPE page. Webinar access information will be emailed directly to you by Surgent McCoy.
Highlights
- The new Roth SEP IRAs and Roth SIMPLE IRAs created under SECURE Act 2.0
- Key factors for choosing a retirement plan for a small business
- Key questions an advisor must ask a small business owner to help determine which retirement plan is suitable for their business
- Key questions an advisor must ask a small business owner to help ensure compliance with applicable rules and regulations
- How SEP and SIMPLE IRAs benefit the small business owner
- How SEP and SIMPLE IRAs benefit employees of small businesses
- The tax benefits that help to offset the cost of employer contributions
- How to determine which business is eligible to adopt a SIMPLE IRA or SEP IRA
- How to determine which employees must be covered
Prerequisites
None
Designed For
All practitioners advising clients on these complex issues
Objectives
- Help small business owners understand why they need to adopt retirement plans for themselves and their employees
- Identify critical features and benefits of SEP IRAs and SIMPLE IRAs
- Determine which employees must be covered under SEP IRAs and SIMPLE IRAs
- Determine the steps that businesses should take to establish SEP IRAs and SIMPLE IRAs, and
- Explain the operational and administrative requirements for SEP IRAs and SIMPLE IRAs
Preparation
None
Leader(s):
Leader Bios
Denise Appleby, Surgent McCoy CPE, LLC
Denise Appleby, APA, CISP, CRPS, CRC, owns and operates Appleby Retirement Consulting. With more than 10 years of experience in the IRA and defined contribution plans field, Denise has held several senior retirement plans-related positions with Pershing LLC, including vice president of Retirement Plans Products and Services, retirement plans manager and training manager. In addition, she has written more than 200 articles for many newsletters, including the Pershing LLC’s SixtySomething and The Pershing Press, Ed Slott’s IRA Advisor and www.Investopedia.com. As well as writing, Denise has edited “Quick Reference to IRAs” by Gary Lesser and Don Levy (2003); “SIMPLE, SEP and SARSEP Answer Book” by Gary Lesser and Susan Diehl (Ninth Edition) and “Parlay Your IRA Into a Family Fortune” (Viking; 2005) by Ed Slott. Denise’s wealth of knowledge in retirement plans led to her make appearances on CNBC’s Business News and be quoted in the Wall Street Journal, Investor’s Business Daily, CBS Marketwatch’s Retirement Weekly and other financial publications, where she gave insights on retirement planning. Her expertise and knack for explaining complex retirement plans’ rules and regulations, created a demand for her to speak at various conferences and seminars around the country as well as to provide training to staff of financial advisor firms around the country.
Non-Member Price $104.00
Member Price $99.00