SEP-IRA rules may vary depending on the specific plan and employer, so it's always a good idea to consult with ... bonds, or target-date funds. Once you've chosen an investment strategy, select ...

You can roll over a profit-sharing plan into a SEP IRA without taxes being withheld if the transaction is processed as a direct rollover. Through a direct rollover, the assets are made payable to ...

SEP IRAs and solo 401(k)s are two of the best retirement plans for the self-employed ... for the prior tax year up to the filing date for your business tax return, including extensions.

About 16.5 million people in the U.S. are self-employed, according to 2023 data from the Bureau of Labor Statistics. For many of these workers, planning for retirement has its own quirks and ...

Self-employed workers and small-business owners who want an easy and inexpensive retirement plan should consider a Simplified Employee Pension IRA, or SEP IRA ... is also a good option for a ...

How is a SEP IRA different from a Roth or Traditional IRA? SEP IRAs are designed specifically for small business owners and freelancers. They're meant to act more like 401(k) plans than the more ... a ...

It gets even easier if you have a tax-planning-focused financial planner who takes care of opening the account for you. If you are self-employed, take the time to set up a SEP-IRA or Solo 401(k ...

These plans have higher contribution and income limits than IRAs for individuals, yet they function like traditional IRAs in many ways. SEP IRAs are also easy to set up and maintain in many cases.

In comparison to a 401(k), SIMPLE/SEP IRAs have fewer plan design options and features but are easier to set up and administer and offer a cost-effective way for a business to start a retirement plan.

Self-employment has its perks, but an employer-sponsored retirement plan isn’t one of them. Opening a solo 401(k) or a Simplified Employee Pension Individual Retirement Account (SEP IRA) allows the ...