Ostroff, Fair and Company
*Ostroff, Fair and Company>>>United States Taxes

If I have a SAR-SEP retirement plan for my own company how much can I put in it every year? I make $165000/yr?


I started the plan back in 1995 when I started my dental practice and I am registered as an LLC

The maximum amount that can be contributed to an employee's simplified employee pension (SEP) plan account is the lesser of 25 percent of the employee's compensation for the year (up to $220,000 considered in 2006 and $225,000 in 2007) or $44,000 in 2006 ($45,000 in 2007). The employer's annual contribution limit also includes any elective contributions made by the employee under a salary reduction SEP (SARSEP).

Based upon your salary, the max is $41,250.
Yes, the information provided is correct.

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