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TOWNSHIP OF WHITEHALL REGULAR PUBLIC MEETING BOARD OF COMMISSIONERS AGENDA S e p t e MB e r 1 4, 2 0 1 5 A. CALL TO ORDER 7:00 P.M. 1. Pledge of Allegiance to the Flag. 2. APPROVAL OF MINUTES a) MOTION
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How to fill out S E P T:
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Begin by filling out the section for personal information. This includes your name, address, and social security number.
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Next, move on to the employment information section. Fill out your employer's name, address, and employer identification number (EIN). Provide accurate details about your job title, start date, and any other requested information.
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Proceed to the contribution section. Here, you will indicate how much you want to contribute to your SEP IRA. Provide the exact amount or percentage you wish to set aside.
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Self-employed individuals: SEP plans are particularly beneficial for self-employed individuals, as it allows them to save for retirement and potentially receive tax benefits.
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Employees of businesses with SEP plans: If you work for a company that offers a SEP plan, you may be eligible to participate and benefit from the employer's contributions.
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Individuals seeking tax advantages: SEP plans provide potential tax advantages, such as tax-deductible contributions and tax-deferred growth. Those who wish to maximize their retirement savings while minimizing taxes might find SEP plans appealing.
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What is s e p t?
S E P T stands for Simplified Employee Pension Plan, which is a type of retirement plan for self-employed individuals or small businesses.
Who is required to file s e p t?
Any self-employed individual or small business owner who wants to set up a retirement plan may choose to file a S E P T.
How to fill out s e p t?
You can fill out a S E P T by completing Form 5305-SEP or using an online service provider like Fidelity or Vanguard.
What is the purpose of s e p t?
The purpose of a S E P T is to provide a tax-advantaged way for self-employed individuals or small business owners to save for retirement.
What information must be reported on s e p t?
On a S E P T, you must report information such as contributions made to the plan, employees eligible to participate, and any distributions taken.
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