[[My husbands employer has us contributing in a SEP account and he throws in profit sharing whenever. It's actually turning out quite well.]]Glad to hear it Janelle...[[ I'm wondering this: I do not work outside of the home and do not bring in any income. We will be making over $55K this year. Can we contribute to a Roth IRA on top of the SEP account? If so...$2k or $4K??]]Sure you can. I addressed this issue in Part I of my Roth IRA series in the Taxes FAQ area. You might want to go and check it out. And, since you are under the AGI limitations, you would be able to make 2 separate Roth IRA contributions...one for your husband and a Spousal Roth IRA contribution for you. Remember that participaing in another qualified pension plan will not prohibit a Roth IRA contribution. With respect to the Roth IRA...AGI controls.<< Thanks>>You're very welcome. Hope this helps...TMF TaxesRoyWant to learn more about taxes and investing? Then we have a deal for you!! The Motley Fool Investment Tax Guide is now available through Fool Mart. Be the first one on your block to own this masterpiece. There is still time available to do that tax planning (and tax saving) before the end of the year. So just click on this link (http://www.foolmart.com/market/product.asp?pfid=MF+013+I) to read more about this amazing collection of tax information. (Apologies for the shameless plug…but it is a pretty good book…if I do say so myself). In addition, if you would like to visit the Taxes FAQ (Frequently Asked Questions) area, click on http://www.fool.com/school/taxes/taxes.htm and you'll be right at the home page. Pay special attention to the "archives" section. Check it out. Finally, if you need to get to the IRS web site, click on http://www.irs.ustreas.gov to go directly there.
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