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Also, is there a cap on the total contributions or do I use the contribution limits for each plan?
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Yes, both plans are linked to her sole-proprietorship. In 2023, she contributed $30,000 to her solo 401k and maxed out her SEP for $13,632. These are the max am...
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Can a self-employed Schedule C business contribute to both a SEP and a 401K for the same year? This is his only business, has no employees. She wants to make a ...