This specialized IRA is ideal for small businesses and self-employed individuals who want to start saving for retirement. With higher contribution limitations and other tax advantages, an SEP IRA is a great way to build their balance. Any company contributions are tax deductible and the employee doesn't pay taxes on funds until they are withdrawn. It's a win for everyone!
Features & Benefits
- Small businesses can save for employee retirement
- Ideal for self-employed individuals
- Interest bearing account
- Higher contribution limits than regular IRAs
- Employer contributions are tax deductible
- Employee funds are tax deferred
- Lower cost than other corporate retirement plans
- Easy to get started and run