Thanks. I have no employees so could consider it closed for 2024. If in a future year I would have better deductibility by contributing to the SEP IRA rather than the traditional, can I just open it back up by contributing to the SEP? Stated another way, can I decide whether to contribute to one or the other based on what would be the most advantageous in terms of deductibility of the contribution? I’ve learned I can’t contribute to both in a given year because my income is too high and would eliminate the deductibility of the traditional IRA if I contribute to the SEP.
