as a participant you can make a contribution of up to $23000 for 2024 (+up to an extra 7500 if 50 or over)
you business can make a contribution of 20% of net self-employment income
however, the combined elective deferrals for 2024 (Section 415) limits the total to the 100 % of net se income ( (after deduction for se tax ) or $69,000 + $7,500 if sage 50 or over.
so in essence the maximum net se income after deduction for the se tax that can be taken into account is $232000
