A Simplified Employee Pension Plan (SEP) allows an employer to contribute on a
|SEP Employer Contribution Limits||Up to 25% of compensation, with a maximum of $55,000*||Up to 25% of compensation, with a maximum of $56,000*|
|SEP Current Year Minimum Compensation Required||$600||$600|
Calculating the SEP IRA contribution limit for self-employed persons is a bit more complex. Further details can be found in IRS Publication 560. Consult your tax advisor on this matter if it applies to you.