SIMPLE IRA
Savings Incentive Match Plan for Employees (SIMPLE) IRAs are adopted by eligible employers for their employees. SIMPLE IRAs may be funded by employers and/or employers.
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Retirement Plans for Small Businesses
2-Year Rule (SIMPLE IRA)
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
Earned income
Definition Net income from self-employment with respect to a trade or business in which personal services of the taxpayer are a material income-producing factor. For
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
