IRA is a great way to maximize retirement savings, particularly for those who are self-employed or run a small business.

IRA, or Simplified Employee Pension IRA, is a retirement savings account for self-employed individuals and business owners.

SEP IRA rules categorically prohibit employees from funding their own SEP IRAs, even when their employers choose not to do so. If your employer offers a SEP IRA, they are required to: Give you a ...

But the rules must uniformly apply to all employees. Employers may exclude employees from their SEP IRA plan if the employees are part of a union agreement that includes retirement benefits.

SEP IRAs follow many of the same rules as traditional IRAs. You generally must be at least 59 1/2 to take withdrawals from the account without paying a 10% penalty. And once you turn age 72 ...

An employee is eligible to participate in a SEP IRA if he or she is at least 21 years old and has worked for the company in three of the last five years, and received at least $600 in compensation ...

Traditional, SEP, and SIMPLE (the only employer-established ... There are complex rules to follow; your IRA could be disqualified if you violate them. These transfers of funds from a retirement ...

As with most traditional IRAs, your contributions are tax deductible, and your investments grow tax deferred until you are ready to make withdrawals in retirement. Unlike SEP IRAs, SIMPLE IRAs ...

Read on to learn about IRA withdrawal rules that you should be aware of ... These penalties apply to traditional IRAs and SEP, SIMPLE IRA, and SARSEP plans. You’ll also pay taxes on the amount ...

With a simplified employee pension, or SEP, freelancers ... phased out of the Roth IRA income limits, this gives them greater flexibility," he says. The contribution rules for the Roth solo ...