Sep Ira Contribution Limits 2024 Married Filing Jointly

Sep Ira Contribution Limits 2024 Married Filing Jointly. Anyone can contribute to a traditional ira, but your ability to deduct contributions is based on your. The sep ira contribution limit for 2024 is 25% of eligible employee compensation, up to $69,000.

The maximum sep ira contribution limit is $66,000 in 2023, which is considerably higher than the contribution limits on traditional or roth iras. The maximum amount that can be contributed to a simplified pension plan (sep) is 25% of an employee’s compensation, which is capped at a maximum as indicated above.