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Retirement tax questions
Rollovers are not included in the annual contributions limits- so you do not have to count any of the $11K from your previous employer.
Your IRA contribution would be limited to $5,500 ($6,500 if you're age 50 or older).- but the Self-Employment SEP would be 25% of the employee's compensation, or $57,000 for 2020 and $58,000 for 2021.
See SEP Plans.
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March 27, 2021
12:02 PM
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