|
Of the tax-saving strategies available to doctors, there is one that can be done at the last minute -- the Simplified Employee Pension IRA.
The SEP-IRA is a way for a self-employed individual to make IRA contributions for himself or herself, and any employees, without using a more complicated plan, such as Keogh.
Here are some answers to common questions about SEP-IRAs:
How much can I put away? There have been recent law changes that allow for up to 20% of adjusted gross income, with a maximum of $40,000 in tax-deductible contributions.
[...]
Full text of AMNews content is available to AMA members and paid subscribers.
Copyright 2002 American Medical Association. All rights reserved.
|
