Greetings, Siyeh, and welcome. You asked:<<I AM DEBATING WHETHER TO ESTABLISH A SEP OR A SIMPLE PLAN. I WOULD LIKE TO KNOW WHETHER AN EMPLOYEE CAN ALSO MAKE A CONTRIBUTION TO THEIR SEP IRA IN ADDITION TO THE EMPLOYER'S CONTRIBUTION? >>An employee may make a contribution to a SEP-IRA, but that contribution is limited to $2K per year. When made, the contribution is considered as one made to a traditional IRA. It may or may not be deductible depending on the employee's adjusted gross income. You will find an overview of SEPs and SIMPLEs in my Foolish Retirement Plan Primer available at http://www.fool.com/Retirement/Retirement.htm. You should also get and read IRS Publication 560 (Retirement Plans for Small Business) available at http://www.irs.ustreas.gov/prod/forms_pubs/index.html.Regards..Pixy
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