SEP IRA
Simplified employee pension (SEP) plan for which the funding vehicle is a traditional IRA. SEP Plans are funded by employers.
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Earned income
Definition Net income from self-employment with respect to a trade or business in which personal services of the taxpayer are a material income-producing factor. For
Individually Designed Plan
Definition Qualified plan or SEP, where the plan document and adoption agreement are customized for a particular employer. An employer that amends any provision of
Net business income (NBI)
Definition The amount of income from self-employment income after ordinary and necessary business expenses. The net business income is the amount on which the self-employed
