If you are a freelancer or a business owner, you can save plenty of pretax money with a Simplified Employee Pension Plan.
‘Typically, you can contribute up to 20 percent of your net employment income’’ – New Jersey-based Certified Public Accountant Barry Kleiman.
Note that you have until April 17th to fund either an IRA or a Roth IRA. However, you can fund a SEP until October 15 with a filing extension.
Legal Guidance Now is for general educational purposes only and is not intended to provide legal advice on any subject matter whatsoever. Your use of the content provided by this website is at your own risk. Due to frequent changes in the law, some information on this website may not reflect the current state of the law. We are not responsible for any errors or omissions in the content of this website or for damages that arise from your use of the content under any circumstances.
No reader of Legal Guidance Now should act on the basis of any content included in this website without seeking appropriate legal advice (in consideration of the particular facts and circumstances at issue) from an attorney who is licensed to practice law in the reader’s state.
