Small business owners have several options for choosing the right retirement plan. When deciding which plan is best, factors you should consider are how many employees you have and how are they paid? How much do you want to contribute to the plan for yourself or your partners, as business owners, as well as for your employees? Do you want to use the plan to attract future employees or for its tax advantages? Three retirement plans to consider are a SEP IRA, Simple IRA, and 401(k).
