SEP-IRA

Deferred Account
A deferred account is a financial account that postpones tax obligations until a later date, allowing the account holder to potentially reduce their current tax burden.
SEP-IRA (Simplified Employee Pension Plan)
A SEP-IRA (Simplified Employee Pension) is a retirement savings plan designed for self-employed individuals and small business owners, allowing them to make contributions toward their own and their employees' retirement savings.
Simplified Employee Pension Plan (SEP-IRA)
A SEP-IRA is a retirement plan specifically designed for self-employed individuals and small business owners, allowing for tax-deferred growth of retirement savings.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.