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Subject:  Re: SEP IRA Max Contribution? Date:  3/5/2005  2:35 PM
Author:  TwoCybers Number:  44990 of 88775

The answer to your example is no - that I am sure about. I believe, when you figure the net profit from your business you can take up to 25% of the net less 1/2 of the selfemployment tax. If you use TurboTax this calculation is done for you automatically -- you will get asked if you want to make the maximum contribution.

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