Simplified Employee Pension IRA
A SEP IRA is a useful retirement planning tool for small
business owners. It can be established anytime before the
business's tax filing deadline plus extensions and contributions
can be made up until the tax filing deadline plus extensions too
so the SEP IRA is a favorite last minute tax planning tool.
Contributions are limited to the lesser of $45,000 or 25% of
eligible compensation. You do not have to make a contribution
every year but when you make contributions they must be
based on an allocation formula and must not discriminate in
favor of highly compensated employees. When you make
contributions they must be allocated to all employees who
worked during the year even those who left or died before the
contribution was allocated.
If you have questions or want more information on establishing
a SEP IRA for your business please call us at 843.946.9868 or
toll free at 877.946.9868. Or send a email to
SEP@oakadvisors.com.
A SEP IRA is a useful retirement planning tool for small
business owners. It can be established anytime before the
business's tax filing deadline plus extensions and contributions
can be made up until the tax filing deadline plus extensions too
so the SEP IRA is a favorite last minute tax planning tool.
Contributions are limited to the lesser of $45,000 or 25% of
eligible compensation. You do not have to make a contribution
every year but when you make contributions they must be
based on an allocation formula and must not discriminate in
favor of highly compensated employees. When you make
contributions they must be allocated to all employees who
worked during the year even those who left or died before the
contribution was allocated.
If you have questions or want more information on establishing
a SEP IRA for your business please call us at 843.946.9868 or
toll free at 877.946.9868. Or send a email to
SEP@oakadvisors.com.
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for small business owners
IRS SEP FAQ's
for small business owners
IRS SEP FAQ's