Can a self employed Schedule C business contribute to both a Sep IRA and a 401K for the same year? This is his only business, has no employees. He wants to make a contribution to both.
sjrcpa - I really don't know why he wants to do that either? I think because he has both set up maybe he wants to split it up?? I was initially confused about whether or not he could actually do that so that is why I was reaching out!!! Thanks for your quick response!
"Why doesn't he have a Solo 401k, which is the same as both?"
Or, hey, why not all Three? Because I smell Financial Manager fees...
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