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How to report FICA and W2 for SEP?


Guest Jerry G

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Guest Jerry G

I am an S Corp owner who just set up a simple K.

When I make my simple K contribution, do I write the check from the corp or my personal account?

Is the contribution subject to FICA?

On the W2, is the contribution amount included in Box1?

Thanks,

Jerry

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You should probably get a copy of IRS Publication 560. http://www.irs.gov/app/picklist/list/publi...NoticesPdf.html

call 1-800-TAX-FORM.

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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