All contributions need to be made by the time you file.
- The SEP IRA is a retirement plan for small business owners and self-employed individuals.
- The SEP IRA allows for a tax deduction on contributions, similar to a traditional IRA.
- Contributions to a SEP IRA can be made up until the tax return filing deadline.
- The SEP IRA allows for contributions of up to 25% of salary, with a maximum contribution of $61,000.
- The SEP IRA is flexible and easy to set up.