Pension Plans You can set up and maintain the following small business retirementplans for yourself and your employees. Benidorm hôtelsSEP (Simplified Employee Pension) plans. SIMPLE (Savings Incentive Match Plan for Employees)plans. Lloret de Mar locandaQualified plans (including Keogh or H.R. 10 plans). SEP, SIMPLE, and qualified plans offer you and your employees a taxfavored way to save for retirement. You can deduct contributions youmake to the plan for your employees on line 19 of Schedule C. If youare a sole proprietor, you can deduct contributions you make to theplan for yourself on line 29 of Form 1040. You can also deducttrustees' fees if contributions to the plan do not cover them.Earnings on the contributions are generally tax free until you or youremployees receive distributions from the plan in later years. Under some plans, employees can choose to have you contributelimited amounts of their before-tax pay to a plan. These amounts (andearnings on them) are generally tax free until your employees receivedistributions from the plan in later years. Essen cheap hotelsFor more information on retirement plans for small business, seePublication 560,Retirement Plans for Small Business (SEP,SIMPLE, and Keogh Plans). TaxTip: Publication 590,Individual Retirement Arrangements(IRAs) (Including Roth IRAs and Education IRAs) discussesother tax favored ways to save for retirement.