Posted by: Robert O'Neil, CPA
One of the most common questions on business owners’ minds is what they can do to reduce their taxes. While there are many possible responses to this question, there is one that stands out. Just as employees may contribute some of their wages to a 401(k) to defer their taxes, small business owners have similar options. One such option is the Simplified Employee Pension, or more commonly referred to as a SEP.
Contributing to a SEP is a great way for small business owners to receive a tax deduction and put money away for the future.
Learn more about the many benefits of a SEP here.
