Lawrence blau & associates, llc


For more information and to discuss your retirement planning strategy, we invite you to contact us at 914-941-5533 or info@LawrenceBlau.com.


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​​​​​​​​A type of traditional IRA for self-employed individuals or small business owners.

Key facts are:


  • Any business owner with one or more employees, or anyone with freelance income can open this account.
  • For 2016, business owners can contribute up to 25% of income or $53,000 whichever is less.
  • The SEP IRA is established by an employer and funded by the employer. The employer receives a tax deduction and the contribution is excluded from the employee’s gross income.The deduction is limited to 25% of the employee’s compensation. You cannot discriminate in favor of highly compensated employees and contributions must be made for all employees who are 21 years old and earn at least $600 annually. The contributions are not mandatory and do not need to be made every year.
  • SEP IRAs must be established by the employer’s tax filing deadline including extensions for the tax year to which the qualifying contribution applies.
  • Profit Sharing Money Purchase Plans must be established, but not fully funded, by December 31st  of the appropriate year.​​
Lawrence Blau & Associates, LLC

SEP IRA (SIMPLIFIED EMPLOYEE PENSION) AND PROFIT SHARING MONEY PURCHASE ACCOUNT  


Lawrence Blau & Associates, LLC retirement image

Lawrence Blau & Associates, LLC © ALL RIGHTS RESERVED. 

CONTACT US

914-941-5533

info@LawrenceBlau.com

​6 Sleator Drive, Ossining,  NY 10562