How does the IRS “know” that SEP IRAs are being funded by employer contributions?

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    St Patrick

      You would have one SEP via “Ash Dee” — not from your various 1099 gigs — so of course the funds would come from “Ash Dee.” Your SEP contribution limits are based on the aggregate income of “Ash Dee” (although the actual computation is a bit more complicated and depends on how “Ash Dee” is set up for tax purposes).

      Work with your tax pro to make sure this is all set up in the most efficient manner. If you do not have a tax pro, I know a guy.

      #89516 Reply
      Elizabeth

        If you are self employed, you ARE the employer by definition.

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      Reply To: Reply #89516 in How does the IRS “know” that SEP IRAs are being funded by employer contributions?
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