 |
|
|
|  |
SEP-IRA (Simplified Employee Pension) |
||
 |
 |
 |
||
|
Checking Accounts Savings Accounts Personal Asset Management Retirement Planning Loans&Credit Cards Private Banking Insurance Electronic Banking Senior Services Web Resources Customer Service Calculators Disclosures
|
 |
The SEP-IRA (Simplified Employee Pension) is a retirement plan designed for small-business owners, the self-employed and their employees. Those who qualify for a SEP-IRA can currently deduct the lesser of 25% or $41,000 of their income each year. The beauty of this plan is its simplicity. Unlike Keogh Plans, also designed for the self-employed, there are no annual reports to file with the IRS and no trustee requirements. As with all IRAs, however, it is important to consult with a tax advisor about your specific financial situation in order to set up a plan that works best for you.
|
|
|
|
|