Small Business Retirement Plans can be broken down into 2 main groups when evaluating the various options.

1) One person business, an owner and spouse business, or a partnership with no W-2 employees

Many independent contractors, entrepreneurs, self employed individuals and small business owners are in business for themselves and have no W-2 employees or have a spouse as their only W-2 employee. Self employed business owners who fit this profile typically select the Individual 401k, SEP IRA, Defined Benefit Plan or Simple IRA.

Learn More

2) Small business retirement plans for businesses with W-2 employees

When a small business owner has W-2 employees (other than themselves or a spouse) who work more than 1,000 hours they are not eligible for an Individual 401k. Small business owners who have W-2 employees may be required to make contributions on behalf of their employees. Small business owners who have full time W-2 employees typically select a corporate 401k, Simple IRA, SEP IRA or Defined Benefit Plan.

Learn More

Beacon Capital Management Advisors provides retirement plans to the self employed, freelancers, entrepreneurs, independent contractors and small business owners and is registered in all 50 States.