October 11, 2008
Having opened
a small business this year, I thought it’d be a good idea to finally look into setting up a retirement plan for myself as the only employee of the business, because this is a good way to leverage tax savings on my earnings. So I’ve been researching a sep ira, and found it to be quite easy as the sep ira contribution deadline is drop dead simple, just like an IRA, I only need to contribute before I file my tax return. In fact, if I decide to file an extension (not that I’m planning to, though I’ve been told the rate of audit on extensions is lower), I have until my extended file date to contribute. I like easy.