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Business & farm
Contributions to a Traditional IRA instead of a SEP will be governed by the fact that you are already covered by a retirement plan at your W-2 job and your income. You may not be able to gain a tax advantage by being eligible to make a deductible contribution to the Traditional IRA.
Making a contribution to a SEP IRA based on your business income may give you more tax advantages because the contribution will be deductible based on the fact that it is a self-employed retirement contribution. It does not have the same limitations that the Traditional IRA does.
So, to answer your question, you can make a contribution to a Traditional IRA instead of a SEP IRA, but it will not be considered to be a self-employed retirement plan contribution. It will just be a Traditional IRA contribution that may or may not be deductible.
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