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Financial Planning / Tax Strategies


Subject:  SEP and IRA Date:  4/9/2008  10:56 PM
Author:  SABOB Number:  100164 of 127613

I have fully funded a SEP for 2007. I also have a rollover IRA containing contributions from a civil service retirement plan prior to self-employment.

With no income other than pension and my own self-employment (spouse does not work), are additional contributions allowed prior to 4/15 to my existing IRA and/or a new one for my spouse? Objective is to maximize amount of untaxed contributions for the 2007 tax year as I have some spare cash.

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