Are you a sole proprietor or single member LLC? If so, you should set up a SEP retirement account!
A SEP account is a kind of IRA designed for sole proprietorships and single member LLCs. The setup costs of a SEP IRA are much lower than those of many other retirement accounts, making them an attractive option for many. A SEP IRA also allows higher contributions than a traditional IRA account.
If you are a sole proprietor, the use of personal funds to contribute to an SEP IRA is acceptable. While single member LLC is are allowed to use business funds. These contributions can be a source of tax deferral!
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sep ira basics. sep ira. roth ira. how to set up. how it works. max 2020 worth it. pension and retirement benefits. small business ideas. sole proprietorship retirement.
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DISCLAIMER:
Tax Tips discussed here were prepared for the purpose of this video. To apply these strategies, please consult with your CPA or professional tax preparer….(read more)
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