ubermax Posted November 10, 2014 Posted November 10, 2014 For an incorporated self-employed over 50 individual with no employees, am I correct that in terms of maximum deduction : (1) 6% of Comp into the SEP + the full DB maximum or (2) 6% PS , 23K ( deferrals + catch-up) , & the full DB max. and of course limited by the 415 rules , e.g. part < 10 years , $limit, etc.
Andy the Actuary Posted November 10, 2014 Posted November 10, 2014 (2) The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
ubermax Posted November 10, 2014 Author Posted November 10, 2014 thanks Andy , yes (2) beats (1) , but each expression is correct on its' own as the max for the particular combination of plans , correct ?
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