First SEP IRA Contribution
Pre-tax accounts are good for retirement planning. It’s easy to enroll and invest in a 401K with your company but what if you don’t work for a company? What if you are your own boss, you’re a freelancer, or self-employed? A Simplified Employee Pension Plan (SEP) allows employers to contribute to traditional IRAs (SEP-IRAs) set up for employees. A business of any size, even self-employed, can establish a SEP. My wife is a freelancer, and she executed her first SEP…