Simplified Employee Pension (SEP)
An SEP is a powerful tool for those who are self-employed or running a small business with a few employees. In both cases, it provides the power of an IRA: saving for retirement with significant tax advantages.
ECB makes it easy to establish an SEP. Doing so gives small businesses the ability to provide big-company benefits that are tax deductible and very easy to manage.
- Summary
- Tax-advantaged savings for retirement
- Eligible for sole proprietors and partnerships
- Can contribute to SEP on your own behalf (perfect for self-employed)
- Contribute to own retirement as well as employees
- Contributions are tax deductible
- Business pays no taxes on earnings
- Can contribute up to 25% of each employee's pay
- Generally no documents to file with government
- Very low administrative costs
