As a lieutenant straight out of college, you will make about $34,000 a year in basic pay. As an officer, your pay depends on your rank and time in service. If youâre a doctor or pilot, there are some special pay considerations and bonuses.In four years, you can be making $47,000â$55,000 as a captain.s an officer, your pay depends on your rank and time in service. If youâre a doctor or pilot, there are some special pay considerations and bonuses. In four years, you can be making $47,000â$55,000 as a captain.
Since you are under the age of 59 and a half, you are likely subject to a 10 percent IRS penalty for early withdrawal of the Simplified Employee Pension (SEP-IRA). This 10 percent penalty is in addition to the ordinary income tax you would normally pay if you withdrew from your SEP-IRA after you passed the aforementioned age threshold.
As with other types of IRAs, self-employed people have until April 15 (tax day) to make contributions to a SEP for the following year. Meaning you can make contributions to a SEP for 2014 up until April 15 of 2015. If you file an extension, you may have until October 15 to fund a SEP IRA for the prior year.s with other types of IRAs, self-employed people have until April 15 (tax day) to make contributions to a SEP for the following year. Meaning you can make contributions to a SEP for 2014 up until April 15 of 2015. If you file an extension, you may have until October 15 to fund a SEP IRA for the prior year.