How Do You Start A SEP IRA Retirement Plan?
A SEP IRA (simplified employee pension) is a retirement plan designed specifically for small businesses and people who are self employed. It is intended to give small businesses the option to make tax-deductible contributions without unnecessary complications inherent in larger plans. It has a great deal of flexibility because it does not have any minimum contribution requirements, so the business is free to make adjustments depending on the profitability of the business. There are also no minimum employee age requirements, and the future payments are not dependent on whether or not the business who paid in is still operating or not. Choose a financial institution to act as the trustee for your SEP IRA. When weighing your options, first decide what investment options you are looking for. Different plans will have varying options and fees. Make sure that you select one that appeals to you and your employees. Employees will not be able to make their own financial contributions, but you m
