How will you do a backdoor with a SEP?

Also, look into a solo 401k. I have a friend in similar situation and she is doing one to channel a good portion of her side gig earnings. But the tax implications are not as straightforward as they are for W-2 earnings.

Anonymous wrote:yes you should look into back-door IRA or mega backdoor IRA from the SEP... there are some good websites with approaches to this...

Thank you! And I have googled a bit, but appreciate and recos of helpful websites or low cost administrators. I’m fairly consolidated with Vanguard now.

yes you should look into back-door IRA or mega backdoor IRA from the SEP... there are some good websites with approaches to this...

I am a W2 employee and max out my 401k contributions, and also do a back door Roth every year. Separately I have started consulting under a pass through LLC. I am trying to figure out if there are any tax strategies I should consider for the consulting income, like setting up a SEP IRA (and if so, whether I can convert that to a Roth 401k).

Essentially the side gig is a true side gig but I am having a good year and want to think about tax implications.

Also welcome any recommendations for a CPA in NoVA, thanks!