Hello,When calculating the max employee SEP-IRA contribution for a corporation, do you count total wages (ie $2000) or only the amountactually paid to the the employee (ie $1607 -- $2000 total wages minuswithholdment, social secuirty and medicare)?Thanks!
For SEP-IRA contributions you use the gross pay amount not the net. If an employee's pay for the year is $50,000 gross and you were using a ten percent contribution then the total contribution would be $5,000
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