Financial Focus Consider establishing a business retirement plan If you’re self-employed or you


own a business, you’ve got a lot to think about: attracting new cus- tomers, maintaining cash flow, up- grading equipment and facilities — the list goes on and on. Yet, as busy as you are today, you can’t forget about tomorrow — which means you need to have a solid retirement plan in place. All retirement plans offer some


features in common, such as tax- deferred growth of earnings. So


how can you pick the plan that’s right for you? You’ll need to con- sider your business’ annual income, number of employees and other factors. Fortunately, you have some good plans from which to choose. Here are a few to consider: • Owner-only 401(k) — If you are


self-employed with no employees other than your spouse or a partner, the owner-only 401(k) may be an option for you. Also known as an individual 401(k), an owner-only


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401(k) offers you many of the same advantages of a traditional 401(k): a range of investment options, tax-deductible contributions and tax-deferred earnings growth. You may even be able to choose a Roth option for your owner-only 401(k), which allows you to make after-tax contributions that have the oppor- tunity to grow tax-free. For 2010, you can contribute up to $16,500 as a deferral, and total contributions cannot exceed $49,000 or $54,500 if you’re 50 or older. But you must plan ahead to take advantage of this plan for 2010 because it will need to be set up prior to Dec. 31, 2010. • SEP IRA — If you have just a


few employees or are self-employed with no employees, you may want to consider a SEP IRA. For the 2010


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tax year, you can put in the lesser of $49,000 or 25 percent of your compensation, which is capped at a maximum of $245,000. You fund the plan with tax-deductible contri- butions, and you must cover all eli- gible employees — at a minimum, those who are at least 21 and have been with your company for three out of the immediately preceding five years. (Employees themselves cannot contribute.) Keep in mind, though, that the percentage of compensation contributed to a SEP IRA must be the same for you and your employees. If you don’t get a plan set up prior to year-end, the SEP IRA is the only plan that you can set up and fund, up until your tax filing deadline, to get a 2010 tax deduction.


• Solo defined benefit plan


— Generally speaking, this plan, which is similar to a traditional pen- sion plan, may be suitable for you if you have relatively high earnings and can afford to take advantage of the high contribution limits, which are determined by an actuarial cal- culation. Your contributions are tax deductible. In choosing a retirement plan,


you may want to consult with your tax adviser. But don’t wait any lon- ger to get started. Te future will be here soon enough — so you’ll want to be prepared for it.


Tis article was written by Ed-


ward Jones for use by Bill Bough- ton, Weaverville’s local Edward Jones financial advisor.


Officials say park cont... Continued from page 1


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And We’re Not Just Another Investment Firm.


We’ve always believed our personalized approach made sense for our clients – and they agreed. Edward Jones ranked “Highest in Investor Satisfaction with Full Service Brokerage Firms, Two Years in a Row,” according to the J.D. Power and Associates 2009 and 2010 U.S. Full Service Investor Satisfaction StudiesSM


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responses from 4,460 investors measuring 12 investment firms and measures opinions of investors who used full-service investment institutions. Proprietary study results are based on experiences and perceptions of consumers surveyed in May 2010. Your experiences may vary. Visit jdpower.com.


To learn how we can help make sense of investing for you, contact your local Edward Jones financial advisor today.


Bill Boughton, AAMS® Financial Advisor


.


61 Weaver Boulevard Weaverville, NC 28787 828-645-0341


time frame they gave us,” he said. James Eller, Woodfin’s code


enforcement officer, said the vio- lations that still exist at the park include open collection of garbage, dilapidated furniture, junked mo- tor vehicles, illegal additions to homes, homes without proper skirting and a tractor trailer being used as storage. Te park’s owners have also not


filed necessary paperwork with the town, according to Eller. Robinson took over the park


in 2009 from his deceased father- in-law, Leonard Ponder. Te park has been in existence for about 30 years. Some of the residents have lived there for more than two de- cades, and several say their homes cannot be moved to another loca- tion.


Te issues between the town and


the park go back several years. Te town first issued a notice of viola-


Police cont... Continued from page 1


problem in law enforcement in gen- eral,” Chief Brett Holloman with the Woodfin Police Department said of Internet sex crimes. He added the department is ready


www.edwardjones.com Member SIPC


to partner with any law enforcement agency to halt these types of crimes. “We’re going to do what we can to


get these folks off the streets and off the Internet,” he said. Rogers has been transferred to the


Buncombe County Detention Cen- ter and is being held on a $250,000 bond.


28 THE TRIBUNE/LEADER - December 16 - December 22, 2010


Registered Representative INVEST Financial Corporation


Steve Judge, ChFC, CLU, Financial Advisor


stephen.judge@investfinancial.com


900 Hendersonville Rd, Suite 310 Asheville, NC 28803 828-274-7655 ext. 12


Securities are offered through INVEST Financial Corporaton (INVEST), member FINRA/SIPC. Investments may lose principle.


www.weavervilletribune.com


tions in 2007 and again in 2009. In June of this year, officials said one home was straight piping raw sewage, and multiple housing and zoning violations were present at others, leading to the’ decision to


revoke the park’s status. Robinson said he plans to show


the aldermen before-and-after pic- tures to illustrate the progress when the matter is brought back for dis- cussion.


WISHING OUR


FRIENDS & CLIENTS A MERRY CHRISTMAS


AND MUCH HEALTH & PROSPERITY FOR THE YEAR AHEAD.


8# Bag of Ice


$.99


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