Retirement Plans for the Self-Employed

Are you self-employed? You may be eligible to get some extra deductions by contributing to a retirement plan designed for self-employed people. Unlike regular and Roth IRAs, which have an April 15th funding deadline, self-employed plans can be funded as late as your extension deadline of October 15th.

Deadlines for Self Employed Retirement Plans:

• October 15th - to set up and fund a SEP-IRA.
• October 15th - to fund a SIMPLE IRA if that plan was set up by October 1 of last year.
• October 15th - to fund a solo 401(k) or Keogh plan if that plan was set up by December 31 of last year.