Hi, i have a sole proprietorship where i am the employer and employee.
I maxed out my Roth IRA Contributions.
But i also invested my maximum allowed Employer Matching (Profit Sharing) Contributions which is $27,000, how do i deduct this amount from the taxable income?
The maximum allowed contributions for 2023 is $66,000, and the employer matching can only be a traditional IRA so it should be tax deductible. Thanks!
