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Choosing the Right Retirement Plan for Your Small Business: SEP Plans vs. SIMPLEs

ARTICLE | October 21, 2026

Authored by Vasquez + Company

If you're a small business owner or self-employed individual looking to reduce your tax burden while building long-term financial security, establishing a tax-advantaged retirement plan may be one of the smartest moves you can make. Two of the most popular options are Simplified Employee Pension (SEP) plans and Savings Incentive Match Plans for Employees (SIMPLEs). Both offer meaningful tax deductions and tax-deferred growth, but they differ significantly in contribution limits, setup deadlines, employee eligibility requirements, and flexibility. Choosing the right plan depends on your business structure, income level, cash flow, and workforce.

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Our firm provides the information for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. This article is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose. 
 

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