Nine months after starting my small business and completing my first annual tax return my accountant advised that I start looking into a retirement account/plan for my business in order to lower my overall tax bill and also effectively set aside some of my business profits towards retirement. After doing my research I found that if you’re a one person employee/owner business or a small employer
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The IRS and Treasury department will roll out a number of updated and streamlined 401K and IRA rules under the guidance of the Obama administration. These are aimed at encouraging Americans who haven't been regularly setting aside money in private accounts to save for retirement. The changes include:1. Streamlining the process for small businesses to automatically enroll employees in savings prog
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