401(k) plan option

A 401(k) plan can be an excellent choice for a qualified retirement plan because it shifts most if not all of the cost of contributions to employees (the employer may wish or be required to make matching contributions as well).

For details about retirement plan options, see IRS Publication 560, Retirement Plans for Small Business, at www.irs.gov. Also review your options with a tax adviser to determine which one works best for your situation.

As good as the 401(k) plan is, there are others to consider, for example, search again for the Simple Plan.

Of course, always seek the counsel of a qualified expert to help you with your choices.