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.
- 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
