Self-Employed maximum Roth IRA contribution?
2024 Gross business income $21,574 with a net business income AFTER business expenses of $8,940.
How much can they contribute to the Roth IRAs for 2024?
Thanks!
2024 Gross business income $21,574 with a net business income AFTER business expenses of $8,940.
How much can they contribute to the Roth IRAs for 2024?
Thanks!
Permalink Submitted by Alan - IRA critic on Mon, 2025-02-03 19:20
The Roth IRA contribution max can be made. Thats 7000 under age 50 or 8000 with the age 50 catch up. The net earnings from SE less 1/2 SE tax 8256, so the lower Roth IRA limits apply.