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Self-employed individuals: Calculating your own retirement plan contribution and deduction | Internal Revenue Service
If you are self-employed, you calculate your self-employment tax using the amount of your net earnings from self-employment and following the instructions on Schedule SE. However, you must make adjustments to your net earnings to arrive at your plan compensation.
What You Need To Know About Opening A SEP IRA For Lower Taxes
Facing a big tax bill for 2017? If you are a small business owner or self employed, you still have time to open a SEP IRA. You can potentially sock away $54,000 for 2017. Here is what you need to know. Yes you can still open a SEP IRA for last years taxes.