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in this video Im going to show you exactly how SEP IRAs work coming up next unholy Schmidt holy Schmidt hi everyone this is Jeff schmidt with deductions tax and holy Schmidt calm and welcome to another video in this video Im going to show you exactly how SEP IRAs work Ill cover off the vast financial benefits as well as the limitations of this plan Ill cover off how much you can contribute and what your obligations are if you have employees also stick around to the end and Ill show you how to correctly fill out IRS Form 5305 - se P the only form needed for the IRS and importantly Im going to show you which pitfalls you need to avoid when making employee elections on this form and if you like the video please give it a thumbs up that tells YouTube that its a good video and helps other people that are also interested in finding out how a SEP IRA works find this video as always if you have any questions please ask them in the comment section below I try to get back to everybody wit