SEP Deposit Services

SEP Deposit Services

A Simplified Employee Pension (SEP) plan can provide a significant source of income at retirement. Employers can set aside money in retirement accounts for themselves and their employees. Self-employed individuals are able to fund their own SEP. There are very few startup and administrative costs, making SEPs an easy way to prepare for your future.

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Summary
  • Contributions to an SEP are tax deductible
  • Your business pays no taxes on the earnings
  • You are not locked to making contributions each year
  • Usually there are no documents to file with government
  • Very low administrative costs
  • Available to sole proprietors, partnerships, S corporations, and corporations
  • May be eligible for a tax credit up to $500 per year for first three years
  • Contributions allowed up to 25% of employee's pay