I am starting a limited liability company (LLC). I will be the sole member. Can I open an SEP IRA? How much tax-deferred money would I be able to contribute each year?

Retirement, Retirement Savings, IRAs
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June 2016
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Yes you can!

Currently in 2016 SEP IRA contribution limits are 25% of earned income, up to a maximum of $53,000 (IRS guidelines).

Keep in mind, only earned income that is subject to payroll tax or self employment tax can be considered to calculate your maximum contribution. Also, technically it's the business that makes contributions to the SEP IRA for the benefit of each eligible employee.

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