SEP IRA question?

Question

I have a SEP IRA through a company I work for that has established a SEP for me. I am starting another job as well and that company does not have a SEP plan for it's employees, I would like to put money from my second job into my current SEP, is that possible? And if so, what is the percentage that I use for my second job...the first job puts in 20% for me....I want to put in 20% for my second job too, but the money will be taxed before I put it in there, is that part legal? Any advice would help...And please don't tell me to find a financial advisor, I would like to find out on my own. Thank you.

Answer 1

You will have to roll it over into an IRA if you want to continue contributions to it.