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May 31, 2020
Question

SEP with an IRA for small business owner

  • May 31, 2020
  • 1 reply
  • 0 views

I own a business with no employees.  I have both a SEP and IRA.  How much can I contribute personally to both in one year and how much can my business contribute?

1 reply

SusanY1
June 3, 2020

How much you can contribute will be dependent on both your personal Adjusted Gross Income (AGI) and your businesses total Net Income (profit) for the year.

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