- Home
- Retirement Plans
Small Business Retirement Plans in IL & WI | SEP-IRA, 401k | Payroll Freedom
Retirement Plans & Wealth Management
Build wealth while you build your business.
Most small business owners are so focused on running their business that planning for their own future gets pushed to “someday.” We make it easy to do both — with retirement plans that save you taxes today and build real wealth for tomorrow.
What we offer
SEP-IRA setup & administration
SIMPLE IRA for businesses with employees
Solo 401(k) for owner-only businesses
Group 401(k) plans
Personal wealth management
Coordinated with your payroll & tax strategy
Sound familiar?
Why small business owners keep putting this off.
Retirement planning is the thing most owners know they should do — and keep not doing. Here’s why.
📅
“I’ll get to it when things slow down”
There’s never a perfect time. But every year you wait is a year of compounding growth you don’t get back. The best retirement plan is the one you actually start.
🤷
Too many options, not enough clarity
SEP-IRA, SIMPLE IRA, Solo 401(k), Group 401(k), Defined Benefit — the options are confusing and the tax implications differ significantly. You need guidance, not a product pitch.
📊
Your retirement isn’t coordinated with your taxes
Retirement contributions are one of the most powerful tax reduction tools available to business owners. But only if your payroll, taxes, and retirement strategy are working together.
🎯
No clear picture of where you stand
You’re building a business — but do you know what it will actually take to step away comfortably? A plan without a number isn’t really a plan.
Plan options
Finding the right plan for your business.
Not every plan is right for every business. Here’s an overview — we’ll help you choose based on your situation, team size, and goals.
📋
SEP-IRA
Best for: self-employed & small businesses
Simple to set up, flexible contributions, and high limits. Contribute up to 25% of compensation. Great if you want flexibility year to year — you’re not required to contribute every year.
Up to 25% of compensation
🤝
SIMPLE IRA
Best for: businesses with up to 100 employees
Lower contribution limits than a 401(k) but easier to administer, with required employer matching. A great way to offer a meaningful benefit to your team without complex administration.
Up to $16,000/year (2024)
👤
Solo 401(k)
Best for: owner-only businesses
For businesses with no employees other than the owner. Allows the highest contribution limits of any plan — contributing as both employee and employer means you can shelter significantly more income.
Up to $69,000/year (2024)
👥
Group 401(k)
Best for: businesses with employees
Full-featured retirement benefit with customizable vesting, investment options, and employer matching. A powerful tool for attracting and retaining quality employees in a competitive market.
Up to $23,000 employee deferral
💰
Defined Benefit Plan
Best for: high-income owners
For high-income owners who want to shelter the maximum possible amount of income. Complex to administer but can allow significantly higher annual contributions than other plan types.
Contributions actuarially determined
❓
Not sure which is right?
That’s what we’re here for
We’ll review your business structure, income, headcount, and goals — and recommend the plan that maximizes your tax advantage and fits how you actually run your business.
Schedule a consultation
The integrated advantage
Why retirement planning works better inside your payroll relationship.
When your retirement plan is coordinated with your payroll and tax strategy, every piece reinforces the others. Here’s what that looks like in practice.
📉
Maximize your tax deductions
Retirement contributions reduce your taxable income dollar for dollar. When your payroll team and retirement advisor are aligned, we time and size contributions to maximize your tax benefit each year.
💼
Retirement plan submission through payroll
We offer automated 401(k) contribution submissions directly through your payroll for $50/month + $125 setup — so contributions are accurate, timely, and never missed.
🔄
Owner compensation strategy
How you pay yourself — salary vs. distributions — directly impacts your retirement contribution limits. We help you structure compensation to optimize both your payroll and your retirement savings.
🎯
Plan around your business goals
Planning to grow, hire, or eventually exit? Your retirement strategy should reflect where your business is headed — not just where it is today. We stay engaged year-round, not just at tax time.
Common questions
Retirement plan questions we hear often.
Straight answers to the questions small business owners ask most.
When is the right time to set up a retirement plan?+
Earlier than you think. The compounding benefit of starting sooner is significant, and many retirement plan contributions must be made by year-end or tax filing deadline to count for that tax year. If you’ve been putting it off, the best time to start is now.
How do retirement contributions reduce my taxes?+
Contributions to SEP-IRAs, SIMPLE IRAs, and 401(k) plans are generally tax-deductible for the business. That means every dollar you contribute reduces your taxable income dollar for dollar — you’re building wealth with money that would have otherwise gone to the IRS.
Do I have to offer a plan to my employees if I set one up?+
It depends on the plan type. A Solo 401(k) is only available to owner-only businesses with no employees. SEP-IRAs require you to contribute the same percentage for eligible employees as you do for yourself. SIMPLE IRAs require employer matching. We’ll walk you through the implications before you choose.
Can my retirement plan be processed through my payroll?+
Yes — we offer automated retirement plan contribution submission directly through iSolved payroll for $50/month plus a $125 setup fee. This ensures contributions are accurate, timely, and automatically reconciled with your payroll data.
What’s the difference between a SEP-IRA and a Solo 401(k)?+
Both are designed for self-employed individuals and small business owners, but a Solo 401(k) generally allows higher contributions — especially if your business income is lower — because you contribute as both the employee and the employer. A SEP-IRA is simpler to administer and may be better for some situations. We’ll help you compare based on your actual numbers.
Do you also offer personal wealth management?+
Yes — through our partnership with Wealth Management LLC, a Registered Investment Advisor, we can provide personal financial planning and investment advisory services coordinated alongside your business retirement plan. Ask us about this when you schedule your consultation.
Investment advisory services are provided through Wealth Management LLC, a Registered Investment Advisor. This information is not intended for use without professional advice. Investment returns are not guaranteed and past performance is not indicative of future results. Contribution limits referenced are for 2024 and subject to annual IRS adjustments.
Ready to start?
Start building wealth that lasts.
Whether you’re setting up your first retirement plan or looking to make sure your current plan is optimized — let’s talk. A 30-minute consultation costs you nothing and could save you thousands in taxes this year.
