Boulder City Magazine is a monthly publication full of information about Boulder City and Southern Nevada. Boulder City Magazine features the Boulder City Home Guide, a real estate guide to Boulder City and Southern Nevada.




Money Matters
by Wendell Whitman
Edward Jones

Check Into A Business IRA - Simplified Employee Pension
You should get as much out of your retirement as you put into your business. When your business is your life, your retirement plan should benefit both. Owning your own business often means professional decisions affect your personal finances.
So if you’re a business owner, it’s worth looking into a Simplified Employee Pension (SEP) IRA: Your personal retirement contribution is considered a tax-deductible business expense. And if you open a SEP IRA by your business tax-filing deadline, you can take the deduction for last year.

What makes a SEP IRA even more attractive is the fact that the contribution limit is substantially higher than with traditional IRAs. For the 2005 tax year, for example, you can contribute as much as 25% of your pre-tax income — up to a total dollar amount of $42,000 — to your SEP IRA.

Maximum contributions can give you and your business the maximum tax advantage. As with any retirement plan, the longer you contribute the maximum amount, the more time your money has to grow. Yet when you consider the size of the annual contribution limit, it’s easy to see that a SEP IRA with the maximum contributions offers a significant financial advantage.
And since all of the contributions that you make will grow while you are enjoying the tax benefits, you could find yourself reaching your retirement goals much faster than you imagined possible.
The first thing you need to know is that setting up a SEP IRA is really quite easy. It requires no special IRS filing and the annual fees are usually very low. But more importantly, if you establish and contribute to a SEP IRA by your annual business tax filing deadline, you can take the deduction for last year.

A SEP IRA isn’t right for everyone, but by understanding your retirement goals, you can determine what’s best for you and your business.

Contact Wendell at Edward Jones www.edwardjones.com.



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