Net business income (NBI)
Definition The amount of income from self-employment income after ordinary and necessary business expenses. The net business income is the amount on which the self-employed
Retirement Plans for Small Businesses
Employer-sponsored retirement plans that are ideally suited for business with 1 to 100 employees
Explore
Profit sharing plan
Definition An employer-sponsored qualified-retirement-plan, established by an employer for the benefit of its employees and their beneficiaries. Profit sharing plans are defined contribution plans, funded
Prototype Plan
Definition A plan that is made available by a prototype sponsor for adoption by employers and under which a separate funding medium is established for
SBO 401(k)
Definition A Small Business Owner 401(k) ( SBO 401(k) ), is a 401(k) plan established by a businesses for which only owners are the business
Small Business Job Protection Act of 1996
Definition Small Business Job Protection Act of 1996, Pub. L. 104-188 (SBJPA ) Act which include provisions that provided tax relief for small businesses, protect
SAR-SEP
Definition Salary Reduction Simplified Employee Pension Plan (SARSEP or SAR-SEP) A simple employee pension plan (SEP), to which employees may make salary deferral contributions. Definition
Safe Harbor 401(k) Plan
Definition 401(k) plans that make contributions in accordance with a safe-harbor formula, resulting in the plan not being subject to the ACP and ADP nondiscrimination
SIMPLE IRA 2-year rule
Definition 2-year restriction placed on transfers, rollovers and conversions of SIMPLE IRA assets. Under this restriction, SIMPLE IRA assets are ineligible to be transferred, rolled
