IRAs are attractive for the self-employed, freelancers, and small businesses because they are easy to set up and administer. Employers can contribute up to 25% of each eligibl ...

The SEP IRA is one of the best ways for small businesses and individual business owners to help employees save for retirement, and they’ll be able to contribute even more in 2025 than in 2024.

An employee is eligible to participate in a SEP IRA if he or she is at least 21 years old and has worked for the company in three of the last five years, and received at least $600 in compensation ...

Jeffrey Levine, chief planning officer at Buckingham Wealth Partners, discusses in this Retirement Daily video whether a reader can roll a rollover IRA or SEP-IRA into a traditional IRA?

Business owners and self-employed people who fund a SEP IRA are contributing as the employer, not the employee. Withdrawals from SEP IRAs before age 59 1/2 may incur a 10% penalty; funds can be ...

The SEP-IRA contribution limit is the lesser of 25% of income or $69,000 in 2024 ($70,000 in 2025). SIMPLE IRAs allow for $16,000 in total contributions for 2024, rising to $16,500 in 2025.

If you're a sole proprietor under age 50 whose net business profit for the year is $75,000, for example, you can contribute $13,940 to a SEP IRA or $33,440 to a solo 401(k) (which is $19,500 as ...

($80,000 x 20% = $16,000) Suppose Bob decides to make a current year contribution of $17,500 to his SEP IRA. Will he receive a $17,500 SEP IRA deduction? It may seem that way, but when you begin ...