The most notable difference between the SEP-IRA and the solo 401 (k) is that, as discussed below, the 401 (k) allows sole proprietors to contribute more, up to $69,000 in 2024 ($76,500 for age 50+) if ...

A SEP IRA is an easy-to-maintain retirement plan that lets self-employed people and small business owners make tax-deductible contributions towards their own and their employees’ retirements.

The SEP IRA is one of the best ways for small businesses and individual business owners to help employees save for retirement, and they’ll be able to contribute even more in 2025 than in 2024.

SEP IRAs, introduced in 1978, have been a popular choice for small business owners and self-employed individuals due to […] The post Does a SEP IRA Allow Catch-Up Contributions? appeared first ...