Can I Open a SEP-IRA Retirement Account?




According to the IRS; businesses, corporations and self-employed individuals can open retirement accounts including the SEP-IRA.  As a self-employed handyman the amount you can contribute is dependent on your profit for the year.

It is not easy to calculate your allowable contribution.  Always looking for a bargain, I opened a SEP-IRA at one of the large discount mutual fund families.  Their retirement planning department was great about answering my questions, they calculated my allowable contribution and all of their advice was free! Check with a tax professional or a financial planner to see if you qualify.