How does Safe Harbor Wealth Advisors help with a SEP IRA?

Safe Harbor Wealth Advisors assists with plan setup, calculates contribution limits, supports annual planning, and helps select appropriate investments while keeping your SEP IRA compliant and efficient.

SEP-IRA Investment Options for Small Business Owners

Q: What is a SEP IRA?

A SEP IRA is a retirement plan designed for self-employed individuals and small business owners that allows employers to make tax-deductible contributions for themselves and eligible employees.

Q: Who can set up a SEP IRA?

Any self-employed person or small business can establish a SEP IRA. It is especially popular with solo business owners or those with a small number of employees. Safe Harbor Wealth Advisors specializes in helping small businesses choose the right retirement solution.

Q: How much can I contribute to a SEP IRA?

You can contribute up to 25% of eligible compensation, up to the annual IRS maximum. Contribution amounts are flexible and can vary from year to year based on business income.

Q: What are the tax benefits of a SEP IRA?

Contributions to a SEP IRA are generally tax-deductible for the business, and investment growth is tax-deferred until funds are withdrawn in retirement.

Q: Can I have a SEP IRA and other retirement accounts?

Yes. You may still contribute to a traditional IRA or Roth IRA, although eligibility and deductibility can vary depending on income and participation in other retirement plans.

Q: When is a SEP IRA a good choice?

A SEP IRA is a good option if you want high contribution limits, minimal administrative requirements, and flexible annual contributions, especially if you are self-employed or have a small staff.

SEP-IRA Accounts for Small Business Owners

SEP-IRAs are designed for business owners with few or no employees. Contributions are tax-deductible and contributions are based upon your compensation. If you have employees and contribute to you own SEP-IRA, you must contribute to all eligible employees and full investing is immediate. Please consult a tax advisor to determine how much you can contribute for yourself and any eligible employees.

SEP-IRA Contribution Limits for 2025

You may contribute up to 25% of compensation (20% if self-employed) or $70,000, whichever is less.

Benefits of a SEP-IRA

Investment growth will be Tax-deferred — Investment will grow tax deferred with compound interest until retirement.

Investment Choices — Allows you many investment choices, enabling you to meet your long-term financial goals and invest the money based upon your risk tolerance.

Current year contributions may be tax deductible — You may be able to deduct all or part of your contributions from your federal income taxes. Please consult a tax advisor to determine how much can be deducted from your tax return.

Schedule a Meeting to Learn About SEP-IRA Accounts

If you are looking to create income for your retirement years, contact Safe Harbor to learn more. We offer a complimentary consultation to review your existing retirement plans and can provide guidance on the right IRA Account solution that will provide the money you need to live comfortably in your golden years. Contact us here or call at 614-760-0670 to schedule your initial consultation or to learn more about SEP-IRA accounts.

SEP IRA FAQs

What is a SEP IRA?

A SEP IRA is a retirement plan for self-employed individuals and small-business owners that allows employers to make tax-deductible contributions for themselves and eligible employees.

Who can set up a SEP IRA?

Any small business or self-employed person can establish one. It’s especially popular with solo business owners or those with just a few employees. Safe Harbor specializes in working with small businesses to find the right retirement solution.

How much can I contribute?

You can contribute up to 25% of compensation, up to the annual IRS maximum. Contribution amounts are flexible and can change from year to year.

What are the tax benefits?

Contributions are generally deductible for the business, and investment growth is tax-deferred until retirement.

Can I have a SEP IRA and other retirement accounts?

Yes, you can still contribute to a traditional IRA or Roth IRA, though your eligibility and deductibility may vary based on income and other plan participation.

When is a SEP IRA a good choice?

It’s ideal when you want high contribution potential, low administrative burden, and flexible annual contributions — especially if you’re self-employed or have minimal staff.

How does Safe Harbor Wealth Advisors help?

Safe Harbor guides you through setup, calculates your contribution limits, assists with annual planning, and helps you choose appropriate investments while keeping the plan compliant and efficient.