i dont think i would try tomatoes just yet. they tend to be very acidic and can be harsh on the stomache. id wait till my baby is a little older. and this is coming from a mom of a seven month old who has been giving cereal since 2 months and stage 1 food since 3 months, so im not all about following 'the rules'... blondie Â· 9 years ago.
My client 100% S-Corp shareholder has received an IRS examination letter regarding the SEP-IRA deduction on 1040. talked to the IRS agent, he says, the question is focused on the S Corp earnings/distributions qualifying for the SEP-IRA!!! My client in addition to the S Corp distributions, has also received a W-2 from the S-Corp which shows a significant salary justifying the SEP-IRA contributions in my opinion.
Contribution limits. SEP-IRA contributions are treated as part of a profit-sharing plan. For employees, the employer may contribute up to 25% of the employee's wages to the employee's SEP-IRA account. For example, if an employee earns $40,000 in wages, the employer could contribute up to $10,000 to the SEP-IRA account. The total contribution to a SEP-IRA account should not exceed the lesser of 25% of income (20% for self-employed before self-employed tax deduction is included); or $42,000 (for 2005), $44,000 (2006), $45,000 (2007), $46,000 (2008), $49,000 (2009-2011), $50,000 (2012), $51,000 (2013), $52,000 (2014), $53,000 (2015 & 2016), and $54,000 (2017).