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[[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 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...
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