Yes, you can contribute to both an employer plan and a SEP IRA, as long as they are not both controlled by the same employer. Here are some great resources regarding Self-Employment retirement options. There are limits on what you can contribute to a SEP IRA. SEP IRA contributions allow for the lesser of either 25% of your compensation or $69,000 for 2024. For self-employed individuals, compensation is considered the lesser of your net earnings from self employment minus half of your self-employment tax, and then subtract the contribution for yourself to the plan.
IRS rules:
https://www.irs.gov/retirement-plans/how-much-can-i-contribute-to-my-self-employed-sep-plan-if-i-par...
Everything you need to know about SEP IRAs:
https://blog.turbotax.intuit.com/self-employed/self-employed-heres-everything-you-need-to-know-about...
IRS calculation methods:
https://www.irs.gov/retirement-plans/self-employed-individuals-calculating-your-own-retirement-plan-...
Other options for Self-Employed Retirement Plans:
https://blog.turbotax.intuit.com/self-employed/can-the-self-employed-have-a-401k-31297/
Hope this helps!
Cindy
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