How much can I contribute to a SEP IRA? How much can I contribute to a SEP IRA?

How much can I contribute to a SEP IRA?

Jared Jared

The amount you can contribute yo a SEP IRA is based on a formula roughly tied to 25% of your adjusted gross. The maximum for 2022 is $61k if you have enough income ($58k maximum for 2021). Your tax advisor or accountant will provide you with the maximum amount you can contribute to a SEP. SEP contributions are pre-tax, meaning you take a deduction the year you contribute and qualified distributions are taxable at ordinary income.