Simplified Employee Pension (SEP) IRA plans are the ideal way for self-employed individuals and small business owners to save for retirement and help their employees save for retirement. The high SEP IRA contribution limits far exceed just about any other retirement accounts, such as Roth IRAs, which have fairly low annual limits. The high contribution limits, along with the tax-deferred growth, flexibility in administration and high deduction limits make SEP IRA plans the clear choice for people who own their own businesses. However, the only way you and your employees can benefit fully from a SEP IRA plan is to ensure that contribution … [Read more...]