Category: Retirement Plans for Small Businesses
-
SEPs Are IRA-Based Retirement Plans That Aren’t IRAs: What You Need to Know
—
by
When you hear the term “SEP IRA,” it sounds like just another version of a traditional IRA. But that’s a mistake — and one that can lead to tax errors, missed opportunities, or even penalties if you’re a business owner or self-employed. A Simplified Employee Pension (SEP) plan uses a traditional Individual Retirement Account (IRA)…
-
Best Retirement Plans for the Self Employed
—
by
Purposeful retirement planning leads to long-term financial security. For sole practitioners, contractors, the self-employed or small business owners, selecting the right retirement plan can make a significant impact on retirement preparedness. Among the options available, four common choices are the solo 401(k), Simplified Employee Pension (SEP) IRA, Savings Incentive Match Plan for Employees (aka SIMPLE…