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URL:  http://boards.fool.com/greetings-shortimer-and-welcome-ltlti-am-10049028.aspx

Subject:  Re: Deferring 1099 Earnings Date:  11/7/1997  10:18 AM
Author:  TMFPixy Number:  560 of 78166

Greetings, Shortimer, and welcome.

<<I am putting regular earnings into my company's 401k plan. I recently started doing some consulting work on the side, for which I will be paid via a 1099. How much of my 1099 earnings can be deferred? Is a SEP-IRA the best, easiest method?>>

A SEP-IRA is indeed the quickest and easiest method of sheltering some of your 1099 income. Using it, you can defer roughly 13.04% of your self-employed income. Get IRS Pub 590, Individual Retirement Arrangements, to get the details. To do so, just call 1-800-TAX-FORM or visit the IRS website a