Can I have SEP IRA and normal IRA simultaneouslyam 07.03.2006 01:12:46 von gaminid
I am working for a small company who offers a SEP-IRA. This is my fist
year and I am not sure how much the company will contribute my SEP-IRA
this year and my guess is less than 5K. In the previous company that I
worked I was able to contribute the maximum allowed for 401K (about 13K
per year). I like to save maximum for my retirement and I am not sure
how can do that.
Can I contribute 8K to a normal IRA (so that total will be around 13K
for this year)?
What are my options to put more moeny away as a retirement fund in
addition to a SEP-IRA through my comapny?
My accountant says I have no other options other than the current
SEP-IRA. I feel it is not true!!