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Q.How much can I contribute to a SEP-IRA account?

A.The maximum contribution was increased to $46,000 for 2008, up from $45,000 in 2007. Remember the maximum contribution is 25% of qualifying compensation, or 20% of net profit for unincorporated businesses.



IRS Circular 230 Disclosure: As required by U.S. Treasury Regulations, you are hereby advised that any written tax advice contained on this web site is not written or intended to be used (and cannot be used) by any taxpayer for the purpose of avoiding penalties that may be imposed on a taxpayer under the U.S. Internal Revenue Service.




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