SEP (Simplified Employee Pension) and SIMPLE (Savings Investment Match Plan for Employees) IRA’s are a great way for small businesses to offer the benefits of retirement savings options for themselves and their employees without the costs associated with a large 401(k) plan. Contributions are made by payroll deduction by the participants and by the employer through their matching program. The participants are 100% vested immediately.

A SEP IRA is a simple version of a retirement plan for sole proprietors, self-employed business owners. The plan can be established and funded by the tax filing deadline (including extensions) for it to be applicable for the prior year.

A SIMPLE IRA is a great plan for self-employed individuals and small businesses with 100 or fewer employees to offer tax-advantage retirement plans. This plan offers tax advantages for both the employers and the participants. The plan must be set up and employees notified by October 1st to be applicable for the current tax year.

In both plans, the contributions are tax-deductible and grow tax-deferred until withdrawn. The SEP contributions may vary each year between 0% and 25% of compensations with a limit for 2015 are $53,000. The SIMPLE contributions for 2015 are limited to $12,500 (under 50 years old) and $15,500 (50 and over).

Both plans are also subject to required minimum distributions starting at age 70 ½ and if withdraws are made prior to 59 ½ subject to early withdrawal penalties from both the Federal and State Tax levels.

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With the easing restrictions of the California Shelter in Place order, we have resumed our normal business hours in the office. As before, we are taking steps to ensure the safety of our staff and clients:

  • Surfaces will be sanitized regularly
  • We have several bottles of hand sanitizer as well as anti-bacterial soap and a sink in the office along with disposable masks should you like one.
  • When possible, we will continue to maintain social distancing and when not possible all the staff has masks.
  • Masks are not required for you to enter our office.
  • We are more than happy to meet with you in office but still maintain the capability for web meetings or telecoms. And as always can be flexible if you require special meeting time accommodations.

Our office hours are:
M-Th 8 a.m. – 4 p.m.
Friday 8 a.m. – 1 p.m.

As always we are available by phone at 209-636-4931 or on email at or