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I have client, sole prop. had a great year. He has been making IRA contributions each year. I was just double checking if he can still do a SEP plan. My research indicates he can up to a max of $44,000.00
He has until the tax return due date including extensions to make the SEP contribution. Max is 20% of net SE income after the one-half SE tax deduction, up to $44,000 for 2006.
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