Assertion: contribution | /r/HasProperty | made to employee's sep-iras
Facets:
Source sentences:
text: How much of the contributions made to employee's SEP-IRAs may be deducted on the business's tax return?
text: Internal Revenue Code Sections 402(h) and 415 limit the amount of contributions made to an employee’s SEP-IRA to the lesser of dollar limitation for the year ($57,000 for 2020; $56,000 for 2019 and $55,000 for 2018) or 25% of the employee’s compensation.
text: In determining this limit, all contributions made to the employee's SEP-IRA must be included: the amounts deferred by the employee and the non-elective contributions the employer made to the SEP-IRA.