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URL:  http://boards.fool.com/greetings-donplurad-and-welcome-you-asked-10474818.aspx

Subject:  Re: Question to Fellow Fools about SEP-IRA Date:  12/21/1998  9:30 AM
Author:  TMFPixy Number:  7391 of 76397

Greetings, Donplurad, and welcome. You asked:

<<As a self-employed,I earned $70,000 this year and would like to know what is the maximum amount I can contribute to my SEP-IRA acount.>>

You may contribute a maximum of the lesser of $30K or 13.0435% of your net earnings from self-employment. See IRS Publication 560 (Retirement Plans for Small Business) available at www.irs.gov for details. If $70K is your net self-employment earnings, then you may contribute $9,130 to your SEP-IRA this year.

Regards….Pixy

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