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Old 02-05-2011, 06:28 PM
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Join Date: Feb 2011
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Are SEP contributions allowed when an S Corp. has a loss?

I am the sole employee in the S Corp. I currently show an $8,700 profit before contributing to the SEP. My salary is $60,000.

Can I make the max contribition based on my salary, which would be $15,000 or can I only contribute $8,700 which would take the bottom line to $0?

Thanks.



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