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I am amending my client's 2016 1120S to include $3,850 as a
Second opinion] Hi, I am amending my client's 2016 1120S to include $3,850 as a SEP-IRA contribution on Line 17. My question is how do I adjust the balance sheet?… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,882 satisfied customers
I have an s-corp, how much can i contribute for tax year
Hi I have an s-corp, how much can i contribute for tax year 2017? Also, i have seceral iras and learned the hard way that a sepIra was bad advice from my accountant! simple IRA or traditional? … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
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Planning for s-corp wage/distribution/SE 401k to minimize
Planning for s-corp wage/distribution/SE 401k to minimize 2017 taxes. I have the estimated numbers and a simple excel model, but would like feedback.… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,882 satisfied customers
I have a question about my solo 401K plan. I own an s-corp
I have a question about my solo 401K plan. I own an s-corp and am the only owner/employee. In 2016, I had a total salary of $23,500. Here are the contributions: - $18,000 was an employee contribution … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,882 satisfied customers
My husband has a consulting LLC but he has an S corp set up
My husband has a consulting LLC but he has an S corp set up for tax purposes. My question is, since he pays himself a salary from the S Corp is that considered self employment income and I need to fil… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,070 satisfied customers
I just finished the first year of operating an S-corp (2016)
I just finished the first year of operating an S-corp (2016) and am about to file my personal taxes. The corporate taxes are on extension until September. I asked the IRS to be considered an S-Corp in… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
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Lane, If you are a general partner in an LLC Partnership
Hi Lane,If you are a general partner in an LLC Partnership with your wife, can the partnership contribute to a SEP only based on the self employment income? What is the maximum $ amount and % of incom… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,882 satisfied customers
Sep-ira's, ok, I am a 50 year old physician and sole
ok, I am a 50 year old physician and sole employee of my s-corp... I earned w-2 wages of $93,555 from the corp, as well as another $291k in w-2 wages from other employers. I want to figure out the maximum contribution my s-corp can make to my sep-ira this year … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,882 satisfied customers
I own an accounting business which is set up as an S corp,
I own an accounting business which is set up as an S corp, and pay myself W-2 wages from the business. My husband Josh is an ER PA and started a new job last year at a hospital where they pay provider… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,882 satisfied customers
So the S Corporation can use the SEP contribution on the S Corp tax return ? Does this al
So the S Corporation can use the SEP contribution on the S Corp tax return ? Does this also become w'2 income to the shareholder ?… read more
Bill
Bill
Master's Degree
2,074 satisfied customers
If I own an S Corp and I contribute to a SEP can I claim that
If I own an S Corp and I contribute to a SEP can I claim that contribution on my 1040 as a deductible on line 28, or must I file it on the 1120S??… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,882 satisfied customers
I'm looking an 1120S tax return prepared by a CPA and trying
I'm looking an 1120S tax return prepared by a CPA and trying to get an understanding about the SEP amount deducted on the return on line 17. The SEP amount contributed in 2014 before March 15th was $3… read more
PDtax
PDtax
Owner
Master's Degree
9,530 satisfied customers
I am the 100% owner of a sub s corporation that has a SEP IRA
I am the 100% owner of a sub s corporation that has a SEP IRA and a SEP 401K. What is the maximum I can contribute. I am also over 50.… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,070 satisfied customers
I am an S-Corp and am making a contribution to my SEP for $20k
I am an S-Corp and am making a contribution to my SEP for $20k in QuicBooks how do I record that? Also, on my tax return, I think would take this as a business expense on the 1120 and then the K-1 I w… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,955 satisfied customers
I am an s-corp and I want to shelter as much money as possible.
I am an s-corp and I want to shelter as much money as possible. From what I understand, I can write off 25% of my income in a sep up to certain limits. Lets say I earn 100,000 W-2 income. and put 25,0… read more
Bill
Bill
Master's Degree
2,074 satisfied customers
I have a new subS corp this year 2009. I am the sole shareholder
I have a new subS corp this year 2009. I am the sole shareholder and the only employee. I have an SEP IRA setup to receive any retirement contributions. Can the subS write a check to the retirement ac… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I am preparing my S corp tax return. In the past I had a ...
I am preparing my S corp tax return. In the past I had a CPA do it and am doing it myself this year. My wife and I are the only employees and pay wages to ourselves and file W-2s. On the w2's I check … read more
Bill
Bill
Master's Degree
2,074 satisfied customers
How to calculate SEP-IRA contributions in an S-Corp?
I want to start an SEP-IRA for my S-Corp. I am the only employee in the company. I pay myself a monthly salary and withhold the necessary payroll taxes. In addition, I also take a small distribution o… read more
Bill
Bill
Master's Degree
2,074 satisfied customers
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