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Author: Donplurad Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76418  
Subject: Question to Fellow Fools about SEP-IRA Date: 12/21/1998 2:40 AM
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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.Thanks a lot and I will greatly appreciate your input. Fool on....
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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 7391 of 76418
Subject: Re: Question to Fellow Fools about SEP-IRA Date: 12/21/1998 9:30 AM
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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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