Comparing Retirement Plans: Simple IRA vs. SEP IRA in 2024 to 2025
Are you looking for a retirement plan for your employees or yourself? You have two choices: Simple IRA and SEP IRA. In this blog, we will explore these retirement plans, how they work, their advantages and disadvantages, and how to determine which plan is better for you. By reading this, you'll get a clear answer that suits your financial goals and needs.
A Simple IRA, or Savings Incentive Match Plan for Employees, provides a tax-deferred retirement saving option for small businesses with 100 or fewer employees. It is relatively easy to set up and maintain, making it an attractive choice for small business owners.
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