Carry Learning Center

Finding a retirement plan that fits a small business budget isn’t always easy. Many owners want to help their employees save for the future but don’t have the time or resources to manage a complex 401k setup. A SIMPLE IRA can be a practical middle ground. A SIMPLE IRA, or Savings Incentive Match Plan for Employees, [...]

A SIMPLE IRA gives small businesses and self-employed individuals an easy way to offer a retirement plan without the higher costs or complex rules of a 401k. It has lower contribution limits, but it’s straightforward to manage and offers meaningful tax benefits.  Here’s a breakdown of how much employees and employers can contribute for 2025. (function(d,u,ac){var s=d.createElement('script');s.type='text/javascript';s.src='https://a.omappapi.com/app/js/api.min.js';s.async=true;s.dataset.user=u;s.dataset.campaign=ac;d.getElementsByTagName('head')[0].appendChild(s);})(document,239363,'zigqxnv3lldviytin3vg'); [...]

Starting a retirement plan is one thing. Knowing when and how you can take money out is another.  A SIMPLE IRA works a lot like other retirement accounts, but it has an extra twist when it comes to withdrawals. Most rules feel familiar, yet the IRS applies a stricter penalty during your first two years of [...]

The SEP IRA and SIMPLE IRA are both retirement plans available to business owners. They offer higher contribution limits than a Roth or traditional IRA, and are easy to set up and maintain compared to a regular 401k plan. However, the two accounts differ in objective and function. The SEP IRA is more advantageous for business [...]

Many employers will opt to offer their employees retirement benefits through a SIMPLE IRA (Savings Incentive Match Plan for Employees) rather than a 401k plan. A SIMPLE IRA is much easier to set up, is less expensive, and requires less maintenance than a 401k. If you’re an employee who receives a SIMPLE IRA from your employer, [...]