If you run a small business or are self-employed and don’t have access to a 401(k), you might be considering an individual retirement plan, or IRA. While there are several versions to choose from, including the Roth and SEP IRA, you’ll get some of the best tax benefits from a traditional or SIMPLE IRA, which is an IRA designed for small businesses. Let’s review the difference between these two retirement plan options so you can see which is best for you.