Newspaper Page Text
FEBRUARY 27, 2003
6A
Business
The One-Person 401 (k) |
A viable retirement plan option for real estate professionals
The red hot real estate market has
been a boon to professionals like
yourself who are helpin% home buy
ers realize their fiiece of the Ameri
can Dream. Per alps Iyou are think
ing that you would [ike to shelter
some of the extra income you may
be earning. One way to gain a cur
rent tax deduction and to position
your funds for tax deferred growth is
to open a One-person 401 (kg).
If you’re the owner of a one-per
son business, the passage of new tax
and Bension legislation has made
possible the One-person 401(k). The
provisions offer a number of
chan%es designed to provide relief to
small business owners and their
employees, but the 401(k) contribu
tion and deduction chan%es for a sin
gle-person business are the most dra
matic.
With a One-person 401(k) you are
permitted to make grofit-sharing
contributions up to 25 percent of
your compensation, subject to a
$200,000 compensation cap in 2003.
Plus, you may make an additional
$12,0810 salary-deferred contribu
tion, and if you are over a%e 50, that
amount increases to $14,000. The
combination of profit sharing and
salary deferral contributions may not
exceed $40,000.
A One-person 401(k) is appropri
ate for corporations, partnerships,
sole proprietors and non-profit enti
ties run solely by one or more own
ers and their spouses. All contribu
tions are fully income tax deductible
for your business, and each year all
interest, dividends and earnings
grow tax deferred. And, your contri-
V& A ¥ T
‘fw‘jli I '
WP g say Vst
%\ _, Been on the job for
%,_g 12 months & make at
2 oF [f] least*lsoo/month?
(Lr
L Bad Credit is NO PROBLEM!
for Automotive Credit .
24 hours a day, 7 days a week Drive a Newer Car, Re-establish Credit
Fast & Easy! No Hassle!
‘Call NOW! 1-800-851-5158
NS R TPI eo (e
investment needs of
the community
Constance Wéods
Financial Consultant
SALOMON SMITH BARNEY
ONE TENTH STREET,
Ste. 600 :
AucusTa, Ga. 30901
(706) 823-8144
SALOMON SMITH BARNEY
A member of citigroup ‘T
2000 Salomon Smith Bamey Inc. Member SPIC. Salmon Smith Bamey an
“SEE HOW WE EARN IT." are service marks of Salmon Smith Bamey Inc.
b d e
R o | W oads
A T G iancial
. T oisuliant
butions may be invested in virtually
any investment, including stocks,
bonds, mutual funds, unit investment
trusts and certificates of deposit.
Assuming the 401(k) covers only
you, the business owner, and your
partners and spouse, many of the
usual administrative and recordkeep
ing requirements do not apTheply.
This could further reduce or even
eliminate related fees and expenses.
When your 401(k) balance reaches
SIOO,OOO, however, you will have to
file an annual return with the Depart
ment of Labor. Once your balance
exceeds this threshold, your CPA or
tax advisor can easily prepare the
required annual filing.
Example
Mr. or Ms. Real Estate Profession
al, who is age 50 or older, receives a
salary and %onus of SIOO,OOO from
an incorporated business in 2003.
This person has no employees. The
maximum contribution to a One-per
son 401(k) may be:
- Profit-sharing contribution:
GET FOCUSED! Subscribe to the
Augusta Focus Today! Call 722-4222
e Stocks and Bonds
¢ Mutual Funds
* Government Securities
e (Corporate Bonds
e Tax-Free Bonds
* [RAs and Pension
Plans
e Annuities
e Money Management
AUGUSTA FOCUS
25% x SIOO,OOO = $25,000;
- Salary deferral with catch-up
contribution: $14,000;
- Maximum contribution:
$39,000;
- Percentage of compensation: 39
percent (for illustrative purposes
only).
Establishin% a One-person 401(k)
for yourself allows:
- Discretionary annual contribu
" tions. You decide how much, if
anything, you want to contribute
each year.
- Tax-deductible contributions
and tax-deferred growth. Contri
butions are tax-deductible to your
business and interest, dividends
and eaminfs grow tax deferred.
- Self-directed investment
options. You decide how your
contributions will be investec{
- Minimal Fovemmental filings.
Annual filings required for
accounts exceeding SIOO,OOO
- Loan grovisions of up to half
your balance or $50,000,
whichever is less.
Smith Barney does not give tax or
legal advice. Please consult your
tax and/or legal advisor for such
guidance.
Smith Barney is a division of
Salomon Smith Barney Inc., member
SIPC.
Constance Woods is a financial
consultant with Smith Barney. For
more information, contact Con
stance L. Woods at (706) 823-8144
or constance.l.woods@smithbar
ney.com.
SwiTcH To ALLTEL
AND GET THE MOST FOR YOUR MINUTES
4650 National Minutes' 39,95,
400 Anytime Minutes, 4000 Night & Weekend Minutes, 250 Mobile-to-Mobile Minutes, Plus FREE Activation
A
o
gßy
.
b BERARE TR |
S
Motorola V&0 offer avaitable only on new activations of
National & Total Freedom plans $35 a month & higher.
The ALLTELFREEDOM
If you are not satisfied with your ALLTEL service
within the first 15 days, you can end your agreement,
return your phone and pay only for the service used.
Guarantee available at all ALLTEL retail locations and participating ALLTEL Authorized Agents, *National Minutes are on the ALLTEL National Freedom™ Network which covers most U.S, Cities. Coverage may not be available in all areas.
SN R TS
Brunswick
115 Altama Connector
(912) 267-6561 -
Fort Gordon
Bldg. 38200-3rd Avenue
(706) 792-0963
Glennville
906 N. Downing Musgrove
(912) 654-1145
Hinesville
5§52 W, Oglethorpe Ave.
Ste. 114
(912) 877-3388
Fort Stewart Post Exchange
Building 419
Fort Stewart, GA 31315
(912) 368-3277
Jesup
1093 North Macon St.
(912) 427-9696
Visit ALLTEL at one
of these locations:
ALLTEL Retail Stores:
Barmwell, SC
161 Main St
(803) 541-8891
Aiken, SC
2398 Whiskey Rd. :
(803) 643-7643
Augusta
Augusta Wes!
Washington Crossing
Shopping Center
2903 Washington Rd.
(706) 738-0245
3456 Wrightshoro Rd.
Near Augusta Mall
(706) 737-0455
ot o GBIt i {1U0) BDO/=0&09
©2003 ALLTEL. Limited time offer at participating locations. Service agmmml&uodflamwmmqum. Offers contained herein are subject to the ALLTEL Terms and Conditions
for Communications Services, which are available at any ALLTEL store or at www.alltel.net. service changes within 90 days of activation. Activation fee may apply. Approved handset
required. Offer may not be available inanum.malmragemam%very&etm&ocmdlltons&storolordemils.wooNalionalNiw&Weekendmlnutesonigevailaueon
the ALLTEL National Freedom network area — see retail store for coverage map. minutes are Mon.-Thurs. e.oorm-s:ssam leekend minutes are Fri. 9:oopm- Mon.
sum.cmmdmdmmMpW:ommMmmm& service area. Mobile-to-mobile minutes apply to calls made to & from ALLTEL wireless
customers that originate & terminate within the National Froedomnelwotkoovumuaa.cwbmnrding. 411&voiosmailcal|s‘eudum.m ALLTEL Freedom Guarantee applies
bmmfimmmmmwmmm#mmm TEL retail stores or its authorized agents on or after February 26, 2003. Guarantee does not apply
bww.maofimmmm Lor its authorized mmummmwwnm«uimlmof&:mmmmmm
W receipt within 15 days to receive refund. Refund for paid by customer. Limit one cancellation per household. Motorola VEOi phone & rebate are
-mwmwummmu- ALL] memmmulmw.wfiww
. Phone cannot be once mail-in rebate certificate has been submitted. See official Motorola rebate certificate for complete terms & conditions. & the
fiulmmm“usmafw%mwmwmwvmwsmummmw‘-til'-nuobra
limited time activation of a activation service agreement, Nokia, Connecting People, model
§188) Bhone are st with the activation of 2 qualifying ALLTEL rate plan with applicable activation fee & service ag
Best Price Ever On
The Motorola V6oi
RV IR RaiViS
|g w Only »
b A
29.
Atter SSO mait-in rebate
RR P e Res (PR
Metter
11 N. Kennedy St.
(912) 685-3480
Savannah
Chatham Plaza
7831 Abercorn St.
(912) 353-5060
St. Mary's
2201-A Osborne Rd.
(912) 882-2355
Statesboro
University Commons
Shopping Center
600 Northside Dr.
(912) 489-6300
Swainsboro
Times Square
664 S. Main St.
(912) 237-2172
'X W You are cordially invited to X‘
4 Q,////}‘j,//t.//”('{/(‘ /
Market=o)
Weitsr Qi X
| 7 L I)en JYouse
Friday, February 28th, Saturday, March Ist: 10:00AM to 6:OOPM
Sunday, March 2nd: 12:00PM to S:OOPM
; gealuring:
Fine European Porcelain African-American Memorabilia
/ Primitive Furniture American-Indian Artifacts \
j/te./dnlixiue Waréef |
x 3179 Washington Road x
% (706) 860-7909 _/QXN ¢
ACCLAIMED B&W INSURANCE
NN iR TS
By >y
3 k Lo :_-<=-'
os . s
Anne Brown & Amanda
Washington .
G o T " ;‘E:.;'
4 / o
: MR
b
‘Qgg Nokia 5185 i
PRy
o
A
PR
Phone promotions reguire 2-year service agreement. Limited time offer. While supblies Fot
1-800-ALLTEL9
www.alltel.com
RN S S R
Spectrum Wireless
1944 Walton Way
(706) 737-1991 :
Wireless Solutions
3328 Washington Rd
La Pavillion Shopping Center
(706) 855-0628
Barnwell
Computer Solutions
1106 Dunbarton Blvd.
(803) 259-1725
Baxley
Julie's Specialties
65 NE Park Ave.
(912) 367-7332
Twin Communication
1147 W, Parker St.
(912) 367-6964
s M NG e
Vidalia
1303-A Lyons Hwy.
(912) 537-6070
Waycross
2442 Memorial Dr.
(912) 285-7000
Authorized Agents:
Equipment offers
at these locations
may vary.
Augusta
Beeper Connection
2416 Windsor Spring Rd.
(706) 798-0606
Go'Wireless
266 Robert C. Daniel Parkway
(706) 731-9231
Pagelink Wireless
3246 Wrightsboro Rd.
(706) 667-6255
Low, Low Monthly Payments
Auto, Home, and Business
Phone: 706-432-0500
Located at The Armstrong Galleria
near the IGA on Laney-Walker Blvd.
The Kingdom of Natural Hair
Natural Hair Specialist
Braiding, double-strand twists,
Natural hair extensions, 10c5...
Call (706) 738-6111
Ask for Audrey
Currently operating out of Fresh Anointing Hair Salon’
3128 Wrightsboro Rd.
‘ :
5
¢ RS CIIE R
«ZILLTEL
Saaaae e
Wireless Retail
1901 Victory Dr.
(912) 484-7325
Thomson
May Wireless
1464 Washington Rd.
(706) 597-0362
Vidalia .
Hub Communications
209 Green St. k
(912) 537-8947
For Business Sales,
Please Call:
(803) 516-2278
Barnwell
&0.12) 658-6195
vannah
R B
Garden City
Fortson Wireless
4920 Augusta Rd.
(912) 966-0781
Martinez
Future Communications
4471 Columbia Rd.
(706) 863-5551
Savannah
Go Wireless
5500 Abercomn St.
(912) 352-1234
Stateshoro :
Alitech Communications
100 Brampton Ave.
(912) 871-7522
Qwik Connect
25 S, Main St.
(912) 764-2133
AT RS
Shop AtA
Participating
WAL*MART
ALLTEL Proud
Sponsor of:
Proud Sponsor of
the SEC:
|
&/