What is a 403(B) tax-sheltered annuity?

The SIMPLE IRA is designed so that small businesses (less than 100 employees) may offer their employees a tax advantaged retirement program. There are no filing requirements for the employer and no initiation or operating costs. Employers cannot have any other employee sponsored plan…

The SIMPLE IRA is designed so small businesses (less than 100 employees) may offer their employees a tax advantaged retirement program.  There are no filing requirements for the employer and no initiation or operating costs. 

Note…

Yes, if your employer offers a Trump account contribution program (Section 128 program). These contributions:

• Are excluded from your taxable income
• Are limited to $2,500 per employee per year (for 2026-2027)…

Yes. You can contribute to a Roth IRA or Traditional IRA regardless of whether or not you have an employer-sponsored plan. In fact, IRAs are a great way to enhance your savings.

While participation in a retirement plan does not change how much you can contribute to an IRA, it can affect whether or not you are eligible to deduct your contributions to a Traditional IRA on your tax return. As long as you have earned compensation, you can always make nondeductible contributions to a Traditional IRA and benefit from tax-deferred earnings…