The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Income: Schedule C vs. Misc Date:  5/1/2012  10:16 AM
Author:  TMFPMarti Number:  116113 of 130194

Isn't the limit for SEPs 25%

The limit for SEPs is, indeed 25%. However, an additional calculation is required when a self-employed person calculates the max for her contribution, resulting in a max of 20%. The limit for employees of the proprietorship would be 25%. See a thorough reading of all of Chapter 2 of Pub 560.

Rule Your Retirement Home Fool
Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us