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Thanks for all replies I received. However I don't think my questions have been answered. First, SIMPLE IRA contribution. My understanding was that 3% of income is the required minimum match, but you can match dollar-for-dollar any amount of contribution. If anyone could confirm or deny that, I will appreciate.
Second, my understnding is that if you declared more than 68400 (or 72000, not sure) of wages, you don't pay selfemployment tax, except Medicare portion. But that leads to main question - how and were SIMPLE IRA contributions deducted for a schedule C filer? Is it on a sch. C or somewhere else? Is selfemployment tax paid on a contribution portion of the income? And what is the combined limit of IRA contribution and contribution to other employers 401(k).
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