SEP and Roth IRA
Can someone who is an employer and he is the only employee who makes a SEP contribution also make a contribution to a Roth?
Any help with this would be greatly appreciated.
Can someone who is an employer and he is the only employee who makes a SEP contribution also make a contribution to a Roth?
Any help with this would be greatly appreciated.
Permalink Submitted by Alan Spross on Wed, 2011-07-06 19:08
Yes, the Roth IRA contribution can be made in addition to SEP IRA contribution as long as his modified AGI is not too high to qualify for the Roth contribution, and he has earned income.