If you're like many small business owners, running your own business is an all-consuming endeavor. In the face of everyday demands, choosing a retirement plan for your business can become a casualty. It is important to pause and think about funding your retirement because no one else is going to do this for you.
The idea of establishing a plan could evoke worries about complicated reporting and administration. If this sounds familiar, then you may want to consider whether a Simplified Employee Pension (SEP) may be appropriate for you. A SEP can be established by sole proprietors, partnerships and corporations, including S corporations.
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