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Message
re: How can I reduce my taxable income?
Posted on 4/16/12 at 11:08 pm to ColdDuck
Posted on 4/16/12 at 11:08 pm to ColdDuck
quote:
So if I do a sep or simple, can I choose not to do any matching?
I would advise seeking legitimate counsel on this. You can contribute up to $50k based upon earnings and guidelines, etc, but I do not believe you can exclude those employees that have been working 3 or more years.
From the horse's mouth:
IRS SEP FAQs
1
Posted on 4/17/12 at 3:13 pm to tirebiter
That is what i thought. SEP you have to match your employees the same % you match for yourself. Simple, you have to match up to 3% for employees or 2% flat. You can't pick and choose.
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