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

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

I spoke with CPA Emily Luk, who had four tips to reduce my 2024 tax payment. 1. Make a big contribution to my SEP IRA Luk ...

While there are several types of IRAs on the market, such as traditional IRAs, Roth IRAs, SEP IRAs and SIMPLE IRAs, we chose to focus on only traditional IRAs for this ranking. To identify our top ...

plans, are sponsored by employers, and many employers match a portion of the worker’s contribution. Still others, such as SEP IRAs and Solo 401(k)s, are mainly for self-employed business owners.

There are several types of IRAs, including traditional, SEP or Roth IRA, which come with unique tax advantages. Many different banks, credit unions and other financial institutions offer IRAs.