Bob Johnson wrote:
- quote -

Depending on how "tiny", SIMPLE IRA might work, you can set aside 100%
at smaller amounts. That's a very cheap and easy to administer plan, the
cost is close to zero. But not for 2004, you needed to establish it by
Oct 1. [In case it comes up...you can set up a SEP all the way till
your tax return filing deadline, including extensions, which can be
helpful.]

Be sure to keep an eye on how these plans interact with other things
like a primary-job 401k, Roth IRA, Traditional IRA, if that's relevant.
The Nolo book does a nice job of explaining these concerns for each
alternative.

-Tad

- quote -

It appears most alternatives limit to 25% of compensation,
while the salary deferral in a 401k (up to 13K) would cover
all of my self employement income (from just a tiny side business)

Found a decent table at American Century
http://www.americancentury.com/servi...risons_biz.jsp

- quote -

Lots of great books published by Nolo, I will look for them
Thanks again for your help.

Best Regards, Bob Johnson

Directories
------------------- GOLDSHEET Mining http://www.goldsheetlinks.com
COINSHEET Numismatic http://www.coinsheetlinks.com
OILSHEET Energy http://www.oilsheetlinks.com
-------------------

There are several plans, Security Benefit has one that is $100 for
installation and $20 for annual fees. AIM has something similar, Manulife,
soon to be called John Hancock, is about $250. Custom documents are $450 and
you can build your own.

Remember you can get up to a $500 tax credit for establishing a plan this
year and for the next 2 years.

"Bob Johnson" <goldsheet[at]hotmail.com> wrote in message
news:g1svm0t3a8h9tutajba5fpuo0ckgh94q28[at]4ax.com...
- quote -

Bob Johnson wrote:
- quote -

Bob,
This isn't really answering your question but have you looked into all
the other alternatives? Solo-k fees have come down a lot but it's still
one of the more expensive and tricky-to-deal-with retirement plans for
the self-employed. If the contribution limits of say a SEP-IRA or SIMPLE
IRA are adequate you might want to go with that instead. A SEP is very
easy to set up, has high contribution limits (essentially 20% of
self-employment income, up to a cap), and has no real administration to
it year to year. And you can open one all sorts of places...mutual fund
companies, discount brokerage firms, etc.

A great book outlining all the options is "Creating your own retirement
plan" from Nolo Press, www.nolo.com. I think they have one on 401ks as
well but I'm not sure if it covers setup.

-Tad

Anyone have any experience with single employee 401K plans ?

I'm self-employed, with no plans to ever hire, so I had read a "solo"
401k can be established, with a little less paperwork, yet with almost
all of the benefits of a "regular" 401k. I'm searched around the web,
read quite a bit, found several plan sponsors with too many fees,
other than Fidelity (www.401k.com)

If there are other good plans out there, or if anyone has set one up,
comments would be welcome. Thanks in advance for your assistance.

Best Regards, Bob Johnson

Directories
------------------- GOLDSHEET Mining http://www.goldsheetlinks.com
COINSHEET Numismatic http://www.coinsheetlinks.com
OILSHEET Energy http://www.oilsheetlinks.com
-------------------