this is helping but there still is situations that I need some help with. So in relation to this section:
How much can I contribute to my SEP?
The contributions you make to each employee's SEP-IRA each year cannot exceed the lesser of:
25% of compensation, $61,000 for 2022 (this tax year), how much can I contribute and where do I claim (which entry in turbox tax) it if:
25% of compensation x W-2 for my employment from the SCorp, so example
$111k x 25% = $27,250, so I could put that in for 2022? where do I claim it?
also, I have put away $20 from another W-2 income where they have their own plan so these two values would be under the $61K max?
there is no pass-though deduction as discussed in this link:
What Is the Pass-Through Tax Deduction? | The Motley Fool
this has nothing to do with the pass through income to me from my SCorp to me personally?
