Carry Learning Center

Many self-employed professionals and small business owners consider transferring their SEP IRA to access lower fees and broader investment choices. If you’re looking to move your SEP IRA from Betterment to Fidelity, the transfer process is relatively straightforward when you understand the steps.  At Carry, we want to make financial decisions feel more manageable, even if [...]

If you’re a small business owner or self-employed professional, moving your SEP IRA to a new provider like Betterment might offer more flexible investment tools, lower fees, or a better user experience. The good news? Transferring your SEP IRA from Fidelity to Betterment is fairly straightforward when done properly. At Carry, we want to make financial [...]

Contributions to a SEP IRA are made with income that hasn’t been taxed yet. You get a tax deduction each year you contribute and investments in your account grow tax-deferred until retirement. A SEP IRA has similar withdrawal rules as a Traditional IRA. Once you contribute to your account, you cannot withdraw from it until you reach the age [...]

OVERVIEW A SEP IRA requires that employers make equal percentage contributions to every eligible employee’s SEP IRAs. For example, if you contribute 10% of your compensation into your SEP IRA, you must also contribute 10% of every eligible employee’s salary into their SEP IRA. An eligible employee is any employee that is at least 21 years of age, [...]

If you’re a W-2 employee, your employer may offer a SEP IRA instead of a traditional  401k plan. But unlike a 401k where you can make your own employee contributions, a SEP IRA allows only employer contributions. You can’t contribute directly to the account. A SEP IRA is often chosen by small businesses as a simpler, [...]

If you’re a business owner, you have the option to open a SEP IRA or 401k at your company. These accounts can only be opened by a business owner; employees cannot establish a 401k or SEP IRA on their own, like they could with an IRA. The main difference between the two accounts is that a business owner [...]

There are many different kinds of IRAs, each with its own set of rules and benefits. A Traditional IRA and Roth IRA are the most similar. They have the same contribution limits and eligibility rules, but only really differ in when and how they get taxed. A SEP IRA is actually closer in function to [...]

The SEP IRA and SIMPLE IRA are both retirement plans available to business owners. They offer higher contribution limits than a Roth or traditional IRA, and are easy to set up and maintain compared to a regular 401k plan. However, the two accounts differ in objective and function. The SEP IRA is more advantageous for business [...]

A SEP IRA (Simplified Employee Pension) is an individual retirement plan for business owners with or without employees. Employees can contribute up to $69,000 for 2024 or $70,000 for 2025. Contributions are made with pre-tax income and are tax deductible and tax deferred until you take qualified distributions in retirement. With a regular SEP IRA, your [...]