Contributions by a self-employed individual to a SEP plan for 2019 are limited to the lesser of a percent of net earned income or: Select one: a. None of these is correct b. $55,000 c. $56,000 d. $19,000 e. $0
SEP PLANS ONLY PERMITS EMPLOYER CONTRIBUTIONS.FOR A SELF -EMPLOYED INDIVIDUAL,CONTRIBUTIONS ARE LIMITED TO 25% OF YOUR NET EARNINGS FROM SELF-EMPLOYMENT (NOT INCLUDING CONTRIBUTIONS FOR YOURSELF) UP TO $57,000 (FOR 2020) ; $56,000 FOR 2019.
