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LLC/Sole proprieter Convert to S Corp and SEP IRA's?
Hi, I Have my own business and I established a SEP IRA in 2020 when I was still a sole proprieter/LLC and made a contribution. I then applied to become an S-Corp, (still waiting to hear back from IRS) can I still use that same SEP Ira for my now S-Corp business?Business name is the same, etc. but I am now an employee of my Scorp and getting a W2 rather than 'self employed.'
And if I file an extension on my taxes till October do i have until Oct 2022 to make a 2021 contribution to the SEP?
Thanks!
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March 31, 2022
7:38 PM