What reason does the IRA contribution interview give?
Your self employed income must have a net profit reduced by the deduction for contributions made on your behalf to retirement plans, and the deduction allowed for the deductible part of your self-employment taxes (half the SE tax).
Do you have a SIMPLE or other self-employed retirement plan?
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
