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Deductions & credits
If you are married and your spouse is covered by a plan at work then your deduction is limited if your joint income is more than $204,000. At $214,000 the deduction is zero.
You would still qualify for a SEP plan if you have schedule C income. You can contribute up to 20% of the company's net income.
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‎April 3, 2023
9:42 AM