Earned income calculation on SIMPLE IRA

[Guest Pat Metallic]

A partnership has a SIMPLE IRA in place. The employer contribution can be limited to a percentage of compensation. Does anyone have a template to assist in the calculation of earned income so that we can help determine the partner's employer contribution?

[Guest Robert E Garrels]

You might want to take a look at our AQSToolkit product which will do these calculations very nicely. Go to www.aqsoftware.com.

Bob Garrels

[Gary Lesser]

For SIMPLE-IRA plans you might also wish to consider SIMPLE Illustrator. Contact Gary Lesser at 317-254-0385.

[Guest AliceT]

I have been using SIMPLE Illustrator for years. It is easy to use and relatively inexpensive ($125 per year). If you also purchase QP-SEP Illustrator you may get a discount (it handles basic PS/MP, SEPs and SARSEPs and all of the "earned income" issues as well).