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.
SEP IRA Contribution Limits. The amount of a SEP IRA contribution is capped at 25% of compensation. In 2015, the contribution allowance is at $53,000 annually. Contributions are not mandatory in every year where there is a net profit. You also do not need to maintain a certain level of contributions.