Guest sugar daddy Posted March 8, 2011 Share Posted March 8, 2011 hi, a one employee S-Corp is wanting to put $30K in a SEP. 1) Can an S-Corp have a SEP and 2) Does the contribution reduce FICA taxes the participant has to pay? Link to comment Share on other sites More sharing options...
Belgarath Posted March 8, 2011 Share Posted March 8, 2011 1. Yes. 2. No. Link to comment Share on other sites More sharing options...
Calavera Posted March 9, 2011 Share Posted March 9, 2011 1. For 30K contribution in a SEP, W2 wages should be at least 120K and business should not sponsor a defined benefit plan. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now