AliciaP1
Expert Alumni

Self employed

Your SEP retirement contribution maximum for 2022 is $61,000 or 25% of your income from self-employment whichever is less.  Your (other) employer 403b and 457b plans have different annual limits and do not affect your SEP contribution.

 

Per the IRS:

Although plans may set lower deferral limits, the most you can contribute to a plan under tax law rules is the lesser of:

  • the allowed amount for that plan type for the year, or
  • 100% of your eligible compensation defined by plan terms (includible compensation for 403(b) and 457(b) plans).

If you’re self-employed, generally your compensation is your net earnings from self-employment

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