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 ...

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 ...

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 ...

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.

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.

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 ...

In a recent episode of "Ask The Hammer," financial expert Jeffrey Levine addressed a question about maximizing retirement savings for individuals with multiple income streams. The scenario involved a ...

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 ...

They’re a sort of like a mix between a 401(k) and traditional IRA. Before you open an account, find out whether you’re eligible and how much the contribution limits are. A SEP IRA is a ...