Can the S-corp contribute only to a SEP account or can there be a contribution to a privately set up/owned 401 K / Roth account.
Currently S-corp contributes only to Owners SEP account .
(Owner who is a employee of the Scorp receives a yearly salary via W2). The current contribution to SEP is 25% of Salary
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An S-corp cannot have two concurrent retirement plans.
If the S-corp already contribute to a SEP plan, it cannot operate or contribute to a 401(k) plan or designated Roth account..
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