SEPs: A powerful retroactive tax planning tool





Simplified Employee Pensions (SEPs) are a powerful retroactive tax planning tool. You can establish one for 2016 as late as the due date (including extensions) of your business’s income tax return, either March 15, 2017 (Sept. 15, if extended), or April 18, 2017 (Oct. 16, if extended), depending on the entity type. The same deadlines apply to making 2016 contributions and claiming a potentially hefty deduction on your 2016 return. Contributions are discretionary and may be as large as $53,000 for 2016. Additional rules and limits apply. Contact us to learn more.

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