Permalink Submitted by mk foss on Mon, 2013-03-04 18:19
A SEP is for a self-employed person. Does he/she have a profitable unincorporated business in addition to his wages? If he/she’s covered by a retirement plan where he/she works an IRA contribution may not be deductible. AGI has to be below a certain level that depends on filing status for a deductible IRA when covered by another plan.
Permalink Submitted by mk foss on Mon, 2013-03-04 18:19
A SEP is for a self-employed person. Does he/she have a profitable unincorporated business in addition to his wages? If he/she’s covered by a retirement plan where he/she works an IRA contribution may not be deductible. AGI has to be below a certain level that depends on filing status for a deductible IRA when covered by another plan.
Permalink Submitted by Martin Helmer on Wed, 2013-03-06 01:11
A SEP can be maintained by any form of employer, including corporations. Otherwise I agree with the above.