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So...I would make the employer-side SEP contribution AND make the employee-side contribution (3000/3500 in 2004) as well.

So you think the deduction from taxable income is more important than tax-deferred income? Is that what you're saying? Perhaps it would help you if I told you I'm turning 53 in a few months. Does this make a difference?

I would think funding a tax-deferred ROTH would be more important (*paying the taxes now on $3,500) and funding the SEP from my income secondary (deducting the LARGER SUM OF EARNED INCOME) would make more sense.

So . . . now what am I missing?

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