Contributions are made to an individual retirement account (IRA) set up for each plan participant. Self-employed individuals also can set up a SEP-IRA for themselves. A SEP does not incur the ...

You can make SEP IRA contributions for 2024 up until tax day, which is April 15, 2025. Because a SEP IRA is funded by the employer, it does not offer a catch-up contribution. The increases are ...

In 2025, the SECURE 2.0 Act allows a new "super catch-up provision" for individuals who turn ages 60 to 63 before the end of ...

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

But when you do choose to make contributions, you must contribute not only to your own SEP IRA, but the SEP IRA of every eligible employee.

The tax benefits of contributing to a SEP-IRA can help you make even larger contributions each year. You will not owe income taxes on the amount you contribute to your SEP-IRA each year.

In a SEP IRA, only employers contribute, and the contribution is typically a percentage of the employee's salary. For 2025, the contribution limit for SEP IRAs is either 25% of the employee's ...

As with most traditional IRAs, your contributions are tax deductible, and your investments grow tax deferred until you are ready to make withdrawals in retirement. Unlike SEP IRAs, SIMPLE IRAs ...

Traditional, SEP, and SIMPLE (the only employer-established one) IRAs let you deduct contributions; Roth IRAs give you tax-free income; and all types let your investments grow tax-free until you ...

Self-employed individuals and small business owners using Simplified Employee Pension (SEP) IRAs will see their contribution limit rise to $70,000 in 2025. For SIMPLE plans, the contribution limit ...

In a SEP IRA, only employers contribute, and the contribution is typically a percentage of the employee’s salary. For 2025, the contribution limit for SEP IRAs is either 25% of the employee’s ...