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.
