First Republic Private Wealth Management includes First Republic Trust Company; First Republic Trust Company of Delaware LLC; First Republic Investment Management, Inc., an SEC-Registered Investment Advisor; and First Republic Securities Company, LLC, Member FINRA/ SIPC.
Contributions to a traditional IRA reduce your AGI (Adjusted Gross Income) and lower your taxes. Your contribution must be made by April 15 following the tax year to be deductable. Contributions to a Roth IRA do NOT reduce AGI and do not lower your current taxes.
One of the key advantages of a SEP IRA over a traditional or Roth IRA is the elevated contribution limit. For 2010, business owners can contribute up to 25% of income or $49,000, whichever is less.