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SEP IRA Explained: HUGE Tax Savings for Self-Employed Individuals!

The SEP IRA is a simple way to invest into your retirement while reaping HUGE tax benefits. Become a Tax Client: https://mycpacoach.com/tax-planning-s... The SEP IRA allows business owners to deduct up to $58,000 and put that money towards retirement. This is thousands of dollars more than the $6,000 contribution limit that a standard traditional or Roth IRA account allows you to deduct. Subscribe: https://bit.ly/2HJlq46 So if you are Self-employed, earning income, and NOT taking advantage of the SEP or Solo 401K, get ready to cut your tax liability and save more money for retirement. Outline: Intro: (0:00) What is a SEP IRA: (1:15) Benefits of SEP IRA: (2:17) How a SEP IRA Works: (3:31) Pros & Cons of SEP IRA: (5:30) Subscribe to watch my next video on Solo 401ks: https://bit.ly/2HJlq46 Interested in talking with someone from our team? Sign up to get notified when we are accepting new clients here: https://lyfeaccounting.com/coming-soon/