IRAs are attractive for the self-employed, freelancers, and small businesses because they are easy to set up and administer.

Picking the right retirement savings plan and maximizing retirement savings can be a complex landscape to navigate, but it’s key to staying fiscally fit in the twilight years. Retirement ...

SEP IRAs are employer-funded retirement accounts with contributions based on employee ... Give you a copy of IRS Form 5305-SEP or the prototype plan document, along with any other pertinent ...

For 2021, a self-employed business owner effectively can salt away as much as 25% of his or her net income in a SEP IRA, not to exceed the maximum contribution limit of $58,000. (That's up from ...

About 16.5 million people in the U.S. are self-employed, according to 2023 data from the Bureau of Labor Statistics. For many ...

Simplified Employee Pension Plan (SEP) Definition: A retirement plan that allows you to contribute and deduct up to 20 percent of self-employment income (25 percent of salary if you're an employee ...

With this design, you can contribute fully to an employer 401k, while also providing additional funds to a SEP in the form of employer contributions. You just cannot surpass $66,000 in ...