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Hello all:

I'm brand new and feeling particularly foolish...

My sub-S company has been running for about 8 months now, and it's time to open up a SEP-IRA. So far, I'm the only employee. But, that may change within the next month.

1) As I understand it, there's a two year waiting period before a new employee must be given a SEP-IRA employer contribution. Correct? If so, can I contribute sooner?

2) Is it true that whatever percentage I give myself in a particular year I must also give to my "vested" employees?

3) Can I change the contribution percentage from week to week, as long as the total doesn't go over the 15% limit?

4) Is a SEP-IRA a single account that I manage for all my employees, or is there a way to allow each employee to make his/her own investment decisions?

Sorry for so many questions at once! I have even more, but let's start here.

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