[Ash]

Background: I work several small 1099s (essentially, mostly gig work) to expedite my FIRE journey. These contracts were signed between the company (e.g. Wag) and me (the individual). How would I be able to contribute to a SEP IRA when it would look like me transferring money out of my own account into the SEP?

Additionally, given that I have many of these 1099s, how do I ensure that I can contribute to a SEP from all of these 1099 gigs? It wouldn’t make any logical sense if they all needed to be separate SEPs (eg one for Wag, one for Rover, one for therapy agency #1, etc), so I think there’s a gap in my understanding.

Thanks so much!

[St Patrick]

You would have one SEP via “Ash Dee” — not from your various 1099 gigs — so of course the funds would come from “Ash Dee.” Your SEP contribution limits are based on the aggregate income of “Ash Dee” (although the actual computation is a bit more complicated and depends on how “Ash Dee” is set up for tax purposes).

Work with your tax pro to make sure this is all set up in the most efficient manner. If you do not have a tax pro, I know a guy.

[Elizabeth]

If you are self employed, you ARE the employer by definition.

[Author]

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