Tax Planning for Entrepreneurs: Are SEP IRA Contributions Tax Deductible?

SEP IRA Tax Deductible


Owning and running your own business or even freelancing gives you the independence and freedom of doing what you want, on your terms. It is indeed a powerful feeling. But, where there is such freedom, there is a catch, what about saving for retirement? Who will do that for you?

For business owners, freelancers and self-employed individuals, a Simplified Employee Pension or SEP IRA is a great way to save for retirement, help employees build a nest egg and take some tax credit in the process. Let’s take a closer look at the tax advantages offered by these plans.

SEP IRAs let you make tax deductible IRA contributions for yourself and your employees in a simple and inexpensive manner. If you’d like to learn more, get in touch with the experts at Self Directed Retirement Plans today!

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