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<<Every place I look to find out about SEP-IRAs tell me the same thing: you can open one up if your self-employed. What I'm trying to
find out is whether I can still open one up if I'm employed full-time and have a 401k with my employer, and also work part-time on the
side (I do computer programming consulting). I'm just starting this side job and will be receiving a 1099.

Am I still eligible to open a SEP?>>

Yes, you may use a SEP based on your self-employed income. You may contribute up to a maximum of 15% of your net self-employed
compensation per year. See IRS Publications 560, Retirement Plans for Small Business, and 590, Individual Retirement Arrangements
for details. Both may be downloaded at ">

Hey, I am in a similar position (full-time job with a retirement plan (not a 401K, though) and a part-time, self-employment on the side). Does this 15% of net SE income contribution to a SEP count against the $2000 annual contribution to a regular or ROTH IRA?


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