Simplified employee pension (SEP) plans are one way to strategize taxes and retirement, an area of tax planning that we excel at for San Francisco small businesses.
San Francisco, CA (PRWEB) January 26, 2014
Safe Harbor LLP (http://www.safeharborcpa.com/), one of the San Francisco Bay Area’s top CPA firms, is proud to announce a new article on “SEP Plans and San Franciso Businesses” on the company website. SEP plans offer many benefits to businesses seeking to defer taxation into the future as well as offer retirement benefits to their employees in San Francisco’s competitive employment environment.
“A prosperous retirement should be the goal of every individual,”commented Chun Wong, CPA, managing partner at Safe Harbor LLP. “Simplified employee pension (SEP) plans are one way to strategize taxes and retirement, an area of tax planning that we excel at for San Francisco small businesses.”
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Highlights of Simplified Employee Pension (SEP) Plans
Simplified employee pension (SEP) plans are commonly used by self-employed individuals and others with party-time self-employment income. Many in San Francisco and throughout the San Franciso Bay Area are individual entrepreneurs whose income may vary, year by year. SEP plans can be an important part of tax planning, plus allow you to give your employees some favorable retirement benefits. SEP plans are relatively simple to set up, and the contribution levels are generous: up to $52,000 maximum for 2014. That means a San Francisco business can "tax defer" up to $52,000 in income.
IRS Circular 230 Notice
The Internal Revenue Service requires Safe Harbor LLP to inform the reader that any tax advice contained in this correspondence cannot be used for the purpose of avoiding penalties under the Internal Revenue Code or for promoting, marketing or recommending to another party any transaction or matter addressed.
About Safe Harbor LLP – a Professional CPA Firm in San Francisco
Safe Harbor LLP is a CPA firm that specializes in accounting and tax services for individuals and businesses throughout the San Francisco Bay Area and greater California. Safe Harbor CPAs helps both individuals and businesses with tax preparation, IRS audit defense, and audited financial statements. The firm prides itself on friendly yet professional service and utilizes state-of-the-art Internet technology to provide quality customer service.
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