What is SEP and SIMPLE?

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  • March 30, 2014 at 6:06 pm #184691
    Anonymous
    Inactive

    In the Ninja Notes under DEDUCTIONS TO ARRIVE AT AGI, it has “Self-Employed SEP, SIMPLE, and Qualified Plans”. What are those?

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  • March 30, 2014 at 6:29 pm #541397
    QuesoDip
    Member

    They are IRA plans. I'd only focus on Deductible/Nondeductible/Roth IRAs/ and Keogh plans. SEP and SIMPLE are just plans for self-employed individuals.

    REG - 88 - 8 Weeks (Becker, Ninja Audio/Flashcards, Wiley TB)
    FAR - 87 - 10 Weeks (Becker, Ninja Audio)
    AUD - 98 - 6 Weeks (Becker, Ninja Audio, Ninja MCQ)
    BEC - 87 - 2 Weeks (Becker & Ninja Audio)

    March 30, 2014 at 6:29 pm #541431
    QuesoDip
    Member

    They are IRA plans. I'd only focus on Deductible/Nondeductible/Roth IRAs/ and Keogh plans. SEP and SIMPLE are just plans for self-employed individuals.

    REG - 88 - 8 Weeks (Becker, Ninja Audio/Flashcards, Wiley TB)
    FAR - 87 - 10 Weeks (Becker, Ninja Audio)
    AUD - 98 - 6 Weeks (Becker, Ninja Audio, Ninja MCQ)
    BEC - 87 - 2 Weeks (Becker & Ninja Audio)

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