Why open a SEP plan?
SEP contributions you make to your own Traditional IRA and your employees’ Traditional IRAs are tax deductible to you, the employer. Because SEP contributions are in a Traditional IRA, all earnings are tax-sheltered, meaning the earnings are not taxed until they are withdrawn from the IRA. In addition, a SEP retirement plan helps you attract and retain quality employees as you help meet the increasing need for financial security at retirement.
