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Subject:  Re: Roth IRA versus SEP Date:  3/21/2005  11:58 PM
Author:  irasmilo Number:  77864 of 132995

Every dollar you contribute from your profit reduces your taxable income and self-employment taxes.

Ira, are you sure about this? I have never seen a change in my net SE income or SE tax when I pay into my SEP. It is an adjustment to income on pg 1 of the 1040, not the Sch C. If my SE tax is supposed to go down, I have some amended returns to work on.

You're right. Case of putting fingers in gear before brain.


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