SEP IRA Pros and Cons

If you own a small business, you have options when it comes to your retirement account, such as a SEP IRA.
Access your free guide to small business retirement plans: try.trustetc.c...
John Bowens outlines the pros and cons of a Simplified Employee Pension (SEP) Plan.
SEP Eligibility
Any employer-whether a corporation, partnership, or self-employed individual-may establish the plan, even if there is only one employee.
Employees must meet ALL of the following requirements:
- Be at least 21 years of age;
- Have worked for the business during any three of the past five years; and
- Have earned the $600 annual minimum required compensation.
- Spouses and children may also participate in the plan and open their own SEP IRAs-as long as they are employees of the company and meet the income requirements.
Equity Trust Company is a directed custodian and does not provide tax, legal or investment advice. Any information communicated by Equity Trust Company is for educational purposes only, and should not be construed as tax, legal or investment advice. Whenever making an investment decision, please consult with your tax attorney or financial professional.

[@JLW667]

5:51

[@namly9868]

Thank you very much

[@marlonvalentino]

Thank you !!!

[@equitytrustcompany]

You're welcome! Thanks for watching. Be sure to subscribe for other educational videos!

[@Funancialism]

BEAST appreciate this

[@anggitoo]

Question: at moment 4:05 you mentioned the Roth component of the solo 401K in-plan conversion could turn ALL of the tax deferred money ($46,000) to tax free money. Please explain how does this work exactly?

[@passporthealthy3008]

Thank you

[@JohnPeterfr]

Can I set up a SEP-IRA if I'm an S-Corp.

[@christinalittle3708]

This is also my question. Did you find out?

[@butchperis1829]

Great presentation, fully understood, thank you

[@sabrinasalomon3591]

Love your clear explanations !

[@equitytrustcompany]

Happy to hear that! Thanks for the feedback!

[@lcmlcm2460]

I see the comments with lots of questions, work with a local CPA if you are serious.

[@sandrag9288]

What if you’re a sole proprietor?

[@rnlpnnclexandtestpreparati5253]

Thank you 🙏

[@donttread5414]

Do you have a single SEP-IRA's or multiple SEP-IRA's if multiple contributors?
1. Would my employed (W2) and self employed (sole prop) SEP-IRA contributions go in to a single SEP-IRA, or would I be required to have two SEP-IRAs?
2. Is there any problems with taking a SEP contribution for my sole prop income and S-Corp W2 income?
3. Would I keep two Form 5305-SEP's for my records?
My Sole prop income was in Q1 only. This sole prop then became a SM-LLC (S-corp election) and was my income for the rest of the year.

[@SPER1]

When did Ted Cruz start making youtube videos?

[@kocarolinaent]

said the same thing

[@puja9689]

I am a w2 employee with no benefits ..just hourly rate.. can I start a sep ira

[@marionharris5952]

I think so.

[@user-ep7el6vt7o]

Tradițional or roth is Good for w2

[@MarvinCounciltcreg]

If I have an employee eligible person do I have to contribute equally? Or can I say here's 5% just for them each