ea_rva aka acctgtaxmatters
Level 5
03-06-2022
10:22 AM
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Hi SGRCPA,
"Their overall limit is 25% of compensation. But an over 50 contribution doesn't count toward the limit."
So, for example, does this mean that if an SCorp owner's SEP for 2021 is $32,000 ($128,000 x 25%) and they are > 50 yrs old they can contribute up to $6,500 more?