RONALD MARK SEMARIA,  CFE, DABFE, FACFEI,CSC, CHS-III
 CERTIFIED FRAUD EXAMINER & FORENSIC ACCOUNTANT
 DIPLOMATE & FELLOW AMERICAN BOARD OF FORENSIC EXAMINERS
 FRAUD, TAX, MANAGEMENT & INVESTIGATIVE ACCOUNTANT
 FORMER INTERNAL REVENUE AGENT
 SPECIALIZING IN EMPLOYEE THEFT & EMBEZZLEMENT

BUS: 718-531-1105
FAX : 718-444-7152

OUTSIDE NYS
866-531-1105
888-IRSAUDIT
888-RONTAXES

 

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REITREMENT PLANS

(SEP's)

SIMPLIFIED EMPLOYEE PENSION

 Simplified employee pension (SEP) plans require less paperwork than SIMPLE IRAs.  

You can invest your contribution in any type of securities, bank accounts, etc. 

You can contribute up to 25% of your outside income to a SEP, about 20% if the business is not incorporated. The ability to make SEP contributions is unaffected by any contributions to your 401(k) plan at your regular job. 

If your incorporated sideline business nets over $160,000 you could contribute $40,000 to a SEP, which is the 401(k) maximum. For an unincorporated business, you need to top $200,000 to maximize your contribution because of the 20% limit.

The following articles are for informational purposes only, and your should always consult with your tax advisor to determine the tax implications for your particular financial situation.

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