Simplified Employee Pension (SEP)
In much the same way a large corporation would establish a pension fund, employers are able to provide employees with an IRA without the usual risks and costs involved with managing employee retirement funds.
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- Summary
- For self-employed individuals, sole proprietors, and small business owners
- Contributions are tax deductible
- Your business pays no taxes on the interest earnings
- SEPs do not have start-up and operating costs of conventional retirement plans
- Very few government documents to file
- Offering a SEP may attract and retain employees
