Published On Premiered Sep 18, 2020
How to calculate SEP IRA contributions if you are self employed. In this video I'm focusing on the SEP IRA for the self employed, schedule C filer or sole proprietor.
The SEP IRA contribution calculation for small business owners who are schedule C filers is different than S corporation small business owners.
The amount that is used as compensation differs because 1/2 of self employment is deductible as a business expense and contributions are only from employers. Employees do not contribute to a SEP IRA.
0:00 | Introduction
1:15 | SEP IRA Contribution Deadline
1:45 | SEP IRA Contribution Limits
3:02 | SEP IRA Net Profit
4:20 | Schedule SE for Self Employment Tax
7:05 | 1/2 Self Employment Tax
8:12 | SEP IRA Contribution Calculation
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Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE http://bit.ly/2Fo21Ry
Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetime and we’re here to help guide you.
TRAVIS T SICKLE, CFP®, EA®, AAMS®, CRPC®, RICP®
CERTIFIED FINANCIAL PLANNER™
Company Website: https://www.sicklehunter.com
twitter: @travissickle
Instagram: / travistsickle
Facebook: / sicklehunterfa
LinkedIn: / travissickle
Sickle Hunter Financial Advisors
1646 W Snow Avenue
Suite 144
Tampa, FL 33606
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