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Can I have a 403(b)/401(k) through work and still fund a SEP IRA with other, consulting income.?

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$78k 1099 consulting, $5K to 7K sports officiating, $40k W2 income with $2k contribution to 403(b).

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  1. Yes you can, but the maximum amount you may contribute to a 401 or 403 may be reduced by the amount you contribute to a SEP.   The IRS has an Aggregate Maximum of ALL plans.   Years ago some misguided souls thought they could put $10k in 1 403 plan, so they opened 3 plans and put 10k in each.  WRONG!


  2. Yes you can.  Rules are here as well as resources such as a help-line to assist you.

    http://www.irs.gov/pub/irs-pdf/p560.pdf
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