Investing
4 months ago
What's the difference between a SEP IRA and a SIMPLE IRA for small business owners?
19
I own a small marketing agency with 8 employees. I want to start a retirement plan for the company. I'm comparing SEP IRA and SIMPLE IRA. SEP seems simpler but I have to contribute the same percentage for all eligible employees. SIMPLE IRA has a lower contribution limit but employees can also contribute. Which one makes more sense for my situation? What about the mandatory employer contributions?
DR
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