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sdsusan
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Joined: 05 Jan 2009
Location: United States
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| Posted: 13 Jul 2009 at 15:54 | IP Logged
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Could anybody tell me:
Could employee exclude the employer contribution under SEP and SIMPLE plan from their taxable income?
I am confused
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cpayesican
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Joined: 28 Dec 2008
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| Posted: 13 Jul 2009 at 16:24 | IP Logged
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for SEP, the employer contributions are excluded from the taxable income of the employee..they are treated like a tax free fringe benefit for the employee.
I'll have to get back to you for SIMPLE.
Hope that helps!
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sdsusan
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| Posted: 13 Jul 2009 at 16:29 | IP Logged
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Thank you very much, cpayesican!
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Topic: SEP and SIMPLE
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