IRA ADVICE – ED SLOTT – If you are a baby boomer that runs a small business, you have probably looked at one of the most popular small business retirement plans, the SEP IRA.
In contrast to other potential options for small businesses, such as a 401(k), the SEP IRA is often favorable. They are generally less complex to establish and maintain, and they are also generally lower in cost to operate. That said, there are many reasons you might consider using a 401(k) for your small business instead of a SEP IRA. Here are three reasons why you might want to consider a 401(k) instead of a SEP IRA. READ MORE.