topic Should a SEP IRA contribution reduce the amount of tax you owe by lowering your self employed income? in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/should-a-sep-ira-contribution-reduce-the-amount-of-tax-you-owe-by-lowering-your-self-employed-income/01/379879#M33876 Tue, 04 Jun 2019 00:45:06 GMT zgkram 2019-06-04T00:45:06Z Should a SEP IRA contribution reduce the amount of tax you owe by lowering your self employed income? https://ttlc.intuit.com/community/retirement/discussion/should-a-sep-ira-contribution-reduce-the-amount-of-tax-you-owe-by-lowering-your-self-employed-income/01/379879#M33876 Tue, 04 Jun 2019 00:45:06 GMT https://ttlc.intuit.com/community/retirement/discussion/should-a-sep-ira-contribution-reduce-the-amount-of-tax-you-owe-by-lowering-your-self-employed-income/01/379879#M33876 zgkram 2019-06-04T00:45:06Z A SEP IRA contribution does NOT lower your self employed... https://ttlc.intuit.com/community/retirement/discussion/a-sep-ira-contribution-does-not-lower-your-self-employed/01/379881#M33877 A SEP IRA contribution does NOT lower your self employed income.  It does, however, lower your modified adjusted gross income.which is used to determine eligibility for many tax benefits.  It should, in most cases, result in a lower your tax liability, but once you change your MAGI, a lot of other items are re-calculated, particular for those in higher income brackets, that it would be very difficult to quantify the tax benefit without recalculating the entire return. Tue, 04 Jun 2019 00:45:07 GMT https://ttlc.intuit.com/community/retirement/discussion/a-sep-ira-contribution-does-not-lower-your-self-employed/01/379881#M33877 re2boys 2019-06-04T00:45:07Z