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I contribute to a 401k and my wife is a sole proprietor. Is there a income phase out with a SEP IRA regarding tax deductibility like there is with an IRA?

 
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MinhT
Expert Alumni

I contribute to a 401k and my wife is a sole proprietor. Is there a income phase out with a SEP IRA regarding tax deductibility like there is with an IRA?

No, there is no income phase-out for the deductibility of a self-employed SEP-IRA.

Please read this IRS document:

https://www.irs.gov/retirement-plans/retirement-plans-for-self-employed-people


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