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If you have earned income - and your self-employment income IS earned income - you can make a contribution to a traditional IRA. The dollar limits are only on getting a tax deduction for that IRA contribution.

You can't contribute more than your earned income to an IRA, but that's not an issue for you.

So like Phil said, make the contributions on Monday and get the money in. Then worry about the tax deductions and investing it and converting it to a Roth IRA later.

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