Business Owners Looking for Tax Deductions – Consider a SEP Plan


Are you a business owner who’s going to have to write a check to the IRS this year?

If you’re looking for a last minute tax deduction you may want to consider adopting a Simplified Employee Pension (SEP).

If you don’t already have a qualified plan, as a business owner you can establish a SEP up until your tax return due date, including extensions.  SEPs are IRA accounts, but because the business is making the contributions, larger amounts are allowed than if an  individual established an IRA.


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How Can a Qualified Plan Benefit Your Business?


A qualified plan can provide tax savings for your business today and accumulate assets for you for tomorrow.

Consider the following:

  • A qualified plan can provide an immediate tax deduction for your business.
  • Contributions to the plan are not currently taxable as income to the participants.
  • Contributions accumulate tax-deferred until withdrawn.1
  • Qualified plan assets are generally protected from creditors.
  • If you have a need for life insurance, premiums can be paid for with pre-tax dollars through the plan.


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