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I
ibsc2009
April 12, 2022
Question

I am 62 years old and a 1099 employee with 70K in income. How much can I contribute to a SEP plan?

  • April 12, 2022
  • 1 reply
  • 0 views
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1 reply

J
JillS56
April 12, 2022

For a self-employed individual, contributions are limited to 25% of your net earnings from self-employment (not including contributions for yourself), up to $61,000 for 2022 ($58,000 for 2021; $57,000 for 2020).

 

Here is an article on how much you can Contribution to a SEP plan.

 

S
SweetieJean
Employee
April 12, 2022

1099 employee

Just to clarify, an employee gets a W-2.  Since you get a 1099, you are an independent contractor.

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