Chippy Posted March 19, 2014 Posted March 19, 2014 Does anyone know if there is a spreadsheet out there that I can use to calculate the earned income for the plan from the Self Employment earnings for a partnership? I have 2 spreadsheets that I use but neither one addresses the Section 179 expense. At what point does the Section 179 expense get deducted?
Bird Posted March 19, 2014 Posted March 19, 2014 My notes say that it is taken off the top; that is, before the deduction for 1/2 of SE taxes. Ed Snyder
PensionPro Posted March 19, 2014 Posted March 19, 2014 179 exps are deducted before deduction of the employee cost and therefore before se tax calc. see instructions to box 14 of k-1. PensionPro, CPC, TGPC
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