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My wife was self-employed early last year and received a 1099-Misc. form for taxes. The rest of the year she was a regular employee (W-2) and opened a 457 plan for retirement. We've got to pay a lot of taxes on that portion of income from self-employment. Can we open up another retirement account like an SEP or Keogh to deduct it from our taxes? Any advice in the next three days would be appreciated ;)

--prs183s

I also posted this message on the retirement investing page.

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