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Still eluding me. I am the only employee of my company (boss and employee combined). With one employee, is the limit therefore $24K if the compensation is $160K? Or perhaps you can think of a better example.

Bobbcat Date: 11/19/99 7:29 PM Number: 21420
If you have multiple employees and use a social security integrated formula, the "boss" gets a higher percentage then the "employees". The formula is chosen as part of the SEP document.

The 15% maximum is the (15% x ALL eligible salaries)
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