"effi" <effi[at]ev1.net> wrote:

- quote -

You can participate in a 401k and also have a SEP for self
employment income. You can also participate in more than
one 401k, as long as the total 401k deferrals do not exceed
the annual limitation for such deferrals. The limitation is
per individual, not per 401k.

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It is my understanding a person:

- can be employed and an active participant in the
employer's 401(k)

- and can also have self employment income and make
deductible SEP IRA contributions

Is this consistent with the law?

Can the same person not only set up a SEP IRA and make
deductible contributions into it, but also set up a 401(k)
for the self employment activity and make deductible
contributions to it also?

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