Because of technology, 401(k)s have become inexpensive and efficient. They also provide the employEE and employER the most flexibility.

For this reason, I rarely (I want to say never but…never say never) come across a situation where a SEP or SIMPLE IRA make sense anymore.

The 401(k) also provides employees the ability to save into a ROTH account which is an ENORMOUS benefit.

If you have a SEP or SIMPLE IRA through your business, that’s okay, but it may be time to convert to a 401(k).

If your accountant recommends a SEP or SIMPLE, contact us and we will help you determine if it’s the right fit!

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