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Deductions & credits
It depends on how you are reporting your self-employment income. If you report on Schedule C the calculation for your maximum SEP contribution can be found at SEP Contributions. If you pay yourself a wage from your business and issue a W2 to yourself, the calculation is 25% of your W2 income with a maximum of $61,000 for 2022.
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‎April 17, 2023
9:09 AM
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