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I have read the above article parts I & II from the FAQ. I am a partner in a S Corp. I think we qualify for the SR; however, I am confused on a few items though.

1) What type of account do I set up for the partners and the qualifying employees? I dont just set up IRA's for each of us do I? I already have a ROTH and a IRA.

2) Can we contribute more than 3%? We will probably contribute 3% (or more if we can) to each qualified employee reguardless of the employee contribution.

3) If some of the employees make contributions, are these contributions deducted prior to taxing the income? In other words, the SRP is like a traditional IRA, not a ROTH IRA.

Thank You in advance.
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