contributions to 2 SEPs, totaling more than 53k
A person is 100% owner of an S corp and receives 250k salary.
He is also a 20% owner of an LLC (80% owned by unrelated parties).
Can the S corp contribute the max. 53k AND can a contribution also be made based on his self-employment income from the LLC (assuming all LL members contribute based on respective income)?
Thank you.
Submitted by Jay Edelman on Mon, 2015-12-21 15:07