Guest LLCNewbie Posted March 21, 2014 Share Posted March 21, 2014 Seeking advice. In 2013, I received W2 severance from past employer. Also received 1099-MISC consulting income via my 1-person LLC. Am I able to set up and contribute to a SEP IRA from my 1099 income as per IRS Pub 560, or does my W2 severance income affect situation. Thank you in advance! Link to comment Share on other sites More sharing options...
masteff Posted March 21, 2014 Share Posted March 21, 2014 Yes, you can do an SEP IRA. No, the W-2 has no negative effect on doing an SEP IRA. This IRS page may be helpful too: http://www.irs.gov/Retirement-Plans/Retirement-Plans-FAQs-regarding-SEPs-Contributions Kurt Vonnegut: 'To be is to do'-Socrates 'To do is to be'-Jean-Paul Sartre 'Do be do be do'-Frank Sinatra Link to comment Share on other sites More sharing options...
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