I have turned 70 1/2. I am semi-retired with several thousand dollars in self employed income every year.

Previously, I contributed 100% of my income (up to max limit but usually self employed income was below that) to a Traditional IRA + 18.587% to a SEP IRA. Absent unexpected expenses, I plan to meet my RMDs with QCDs.

As a self employed person, no other employees, what % of my self employed income can I contribute to a SIMPLE IRA ?

I pay FICA at the self employed rate of 15.3% x (1 – 7.65%). I deduct half of that from my taxable income. I also deduct my medical insurance premiums (Medicare B,D & G) from my income.

Thank You