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  2. 7 tax tips to make sure you get the biggest refund, according ...

    www.aol.com/finance/7-tax-tips-sure-biggest...

    The max for a traditional IRA last year was $6,500 ($7,500 for those 50 and up) while the max for SEP IRAs, used by some business owners, is much higher—the lesser of 25% of compensation or $66,000.

  3. A complete guide to SEP IRAs: Why those who are self ... - AOL

    www.aol.com/finance/complete-guide-sep-iras-why...

    First of all, rather than limiting your annual IRA contributions to $7,000 — the maximum that workers under age 50 can contribute to traditional and Roth plans in 2024 and 2025 — SEP IRAs ...

  4. Does My SEP IRA Allow Catch-Up Contributions? - AOL

    www.aol.com/finance/does-sep-ira-allow-catch...

    For 2023, the contribution limit for a SEP IRA is the lesser of 25% of the employee’s compensation, or $66,000. This maximum contribution limit is significantly higher than many other retirement ...

  5. 3 Retirement Accounts for Your Side Gig Money - AOL

    www.aol.com/3-retirement-accounts-side-gig...

    Technically, the maximum SEP-IRA contribution is the same as with a solo 401(k) — or $61,000 for 2022 a nd $66,000 in 2023. But SEP-IRAs have a separate limit of 25% of your net self-employment ...

  6. SEP-IRA - Wikipedia

    en.wikipedia.org/wiki/SEP-IRA

    When a business is a sole proprietorship, the employee/owner both pays themselves wages and may also make a SEP contribution, which is limited to 25% of wages, namely, profits minus SEP contribution. For a particular contribution rate CR, the reduced rate is CR/(1+CR); for a 25% contribution rate, this yields a 20% reduced rate, as in the above ...

  7. 3 last-minute tax moves for retirement savers - AOL

    www.aol.com/finance/3-last-minute-tax-moves...

    The annual contribution limit for IRAs — both traditional IRAs and Roth IRAs — is $6,500 for 2023. Individuals 50 and over can set aside an additional $1,000.

  8. What Are the Age Limits For IRA Contributions? - AOL

    www.aol.com/finance/age-limits-ira-contributions...

    For Savings Incentive Match Plan for Employees or SIMPLE IRAs, the 2023 contribution limit is $15,500 for employees under age 50 and $19,000 for employees above age 50 who are making $3,500 in ...

  9. Best retirement plans for the self-employed - AOL

    www.aol.com/finance/best-retirement-plans-self...

    The catch-up contribution for employees aged 50 and over is $3,850 for 2025. Employers must add to the account, and they have a couple choices: They can match contributions up to 3 percent of salary.

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