Unfortunately What your describing does not actually work in Turbo tax. I only see an 18% allowable contribution on a SEP IRA (Based on not gross but rather net pay after taxes and all business expenses are deducted. Thus it is not working correctly as it should be 25%
As for Individual 401K I do understand that and I plan to look into that instead, however I am concerned that Turbp does not correctly calculate that either.
