The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing

URL:  http://boards.fool.com/buzman-contributions-to-a-sep-ira-are-a-19209234.aspx

Subject:  Re: 401(k) and IRAs Date:  6/19/2003  10:57 AM
Author:  decath Number:  36579 of 76406

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)
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us