Thank you for the opportunity to help you with your question!
would prefer SEP IRA because of the below advantages:
your employer makes to a SEP IRA on your behalf aren't included in your taxable
income. If you're self-employed, or make contributions to your SEP IRA
yourself, you can deduct your contributions on your tax return.
However, SEP IRAs cannot be Roth IRAs, which means you're stuck with the
tax-deferred savings option even if you would prefer to have your retirement
savings be made on an after-tax basis.
contribution limits typically are much lower than employer-sponsored plans. For
example, in 2015, you can contribute up to $5,500 to a traditional and Roth IRA
combined per IRS rules, but up to $18,000 in employee contributions and $52,000 total for 401(k) plans.
Please let me know if you need any clarification. I'm always happy to answer your questions.