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Message
re: Best small business retirement account contribution rate for President/ owners?
Posted on 1/6/24 at 7:44 pm to baldona
Posted on 1/6/24 at 7:44 pm to baldona
quote:
ETA: there’s no reason this crap shouldn’t be in a spread sheet. Put anything unknown into its own and either allowed or not allowed and revisit yearly. Fricking ridiculous
Couldn’t agree with this more.
It should be as simple as “take Line N income, multiply by X%, and that’s your SEP deduction.”
The idea you have to read multiple form instructions and publications to figure it out is fricking insane. Net income from self employment is needed for SEP, but isn’t defined in SEP publication.
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