helter asks:I've got my own S-Corp - I found somewhere on the net that the contribution limit for SEP's is 25,500 = 15% of 170,000.Can you guys verify this?I can verify it. However don't take my word for it. Get Form 5305-SEP(Rev. 1-2000) from www.irs.gov. In this newly revised version you will have official verification.I quote from this form:Contribution limits.The SEP rules permityou to make an annual contribution of up to15% of the employee's compensation or$30,000*, whichever is less. Compensation,for this purpose, does not include employercontributions to the SEP or the employee'scompensation in excess of $170,000*. If youalso maintain a Model Elective SEP or anyother SEP that permits employees to makeelective deferrals, contributions to the twoSEPs together may not exceed the smaller of$30,000* or 15% of compensation for anyemployee.* This amount reflects the cost-of-living increase effective January 1, 2000. The amount is adjustedannually. The IRS announces the increase, if any, in a news release, in the Internal Revenue Bulletin,and on the IRS's Internet Web Site at www.irs.gov.Cat. No. 11825J Form 5305-SEP (Rev. 1-2000)PtSurMr
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