simple ira set-up
Can a self-employed farmer set up a simple ira now before april 15 and make contributions for 2012; or should he have set it up earlier by the October deadline? He has no other employees to worry about insofar as those rules go.
Can a self-employed farmer set up a simple ira now before april 15 and make contributions for 2012; or should he have set it up earlier by the October deadline? He has no other employees to worry about insofar as those rules go.
Permalink Submitted by mk foss on Wed, 2013-04-03 20:29
The only retirement plan that can be set up now in order to make contributions deductible in 2012 is a SEP. Both a Simple Plan and a Qualified Plan needed to be established during 2012.