9 Comments

1. 

   Nicholas Olivas on August 10, 2022 at 10:14 am

   How is that 18k? 25% of 100?

2. 

   nappychef35 on August 10, 2022 at 10:14 am

   Great video…. where is the url link for the fidelity self employed contribution calculator you used in the video. thanks

3. 

   Kilobit Nomad on August 10, 2022 at 10:14 am

   awesome video.
   been looking for this.

   Does the SEP-IRA / Solo 401k lower your self-employment tax on an LLC (sole prop)?

4. 

   Rizwan aka rizzy on August 10, 2022 at 10:14 am

   Thank you for this. I have a question. Why SE401K Employer Contribution is same as SEP IRA contributions?

5. 

   David Mark on August 10, 2022 at 10:14 am

   There are some serious mistakes in this presentation. For a SEP IRA, you do not save anything off your self employment taxes, you pay 15.3% of 92.35% of your business net. For a sole proprietor, the 25% maximum deduction becomes a 20% deduction because the SEP deduction itself further reduces your business net. I don’t know why they fuss around with this percentage translation, for a sole proprietor you just want to know the max limit. So its simple, take your business net, subtract 1/2 of your self employment taxes, and take 20%. Same calculation for the employer side of the solo 401k.

6. 

   M Cleve on August 10, 2022 at 10:14 am

   Hello, would you mind providing guidance on how one would record a SEP IRA employer contribution for an S-CORP into QBO?

7. 

   Progress for America on August 10, 2022 at 10:14 am

   why are some lawyers and CPA.'s like Mark Kohler suggest to be a S-corp when setting up a self direct solo 401k plan if you can contribute less than being an LLC?

8. 

   Progress for America on August 10, 2022 at 10:14 am

   I got 15,000 not 11,152

9. 

   Crucible on August 10, 2022 at 10:14 am

   Yup, setup SEP 10+ years ago and now a Solo