How do a set up a SEP for small business side gig through an LLC?

[Financial.Velociraptor]

I'm a little lost on requirements and actionable steps.  Please make me smarter.

[seattlecyclone]

Are you the only one working for the LLC? If it's just you it's pretty easy. Maybe more complicated if you have employees. I don't run an LLC for my side gig, but the process should be basically the same as for a sole proprietorship. Step 1: find a brokerage that you want to use. I went with Vanguard. Step 2: fill out the forms to open a SEP account. Step 3: contribute money.

[katsiki]

Are you the only one working for the LLC? If it's just you it's pretty easy. Maybe more complicated if you have employees. I don't run an LLC for my side gig, but the process should be basically the same as for a sole proprietorship. Step 1: find a brokerage that you want to use. I went with Vanguard. Step 2: fill out the forms to open a SEP account. Step 3: contribute money.

Pretty much the same for me but Fidelity.

I would imagine you could call your favorite broker and they will walk you through it.  Hardest part that I remember is the annual contribution but they have an online calculator to help with that also.

[terran]

Yep, pretty much just open it like any other account except enter your name and social where appropriate and enter the business name and EIN where appropriate. Consider a solo 401(k) if you're the only employee as the contribution is larger at lower incomes and you can use Roth for the employee portion if that's useful, which it can be to maximize the Qualified Business Income deduction.