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http://boards.fool.com/buzman-contributions-to-a-sep-ira-are-a-19209234.aspx
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| Subject: Re: 401(k) and IRAs | Date: 6/19/2003 10:57 AM | |
| Author: decath | Number: 36579 of 74759 | |
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buzman: Contributions to a SEP-IRA are a deductible expense so the maximum contribution rate is lowered from 25% to 20% for self-employed income. This stuff really gives me a headache! I use turbo-tax and used their calculations on how much I could contribute to my SEP-IRA. I went back to double check my 2002 tax return after reading your post and sure enough, it was 20%! decath (will have to read more of the fine print for the 2003 tax season) |
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