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Thanks; what exactly counts as self employed? The outfit we are working for pays us as contractors, I assume that suffices?

The bottom line of Schedule C is your net income from self-employment. As an independent contractor, Schedule C is where you'll report your contracting income and expenses.

Also, are there any special steps one needs to take to set up a SEP-IRA? I am only able to find Roth/Ordinary IRA account applications at various brokerages.

AFAIK, any traditional IRA can accept SEP contributions. Check with your custodian.

Phil Marti
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