are you saying

Posted By: Snow Bunny on 2005-12-01
In Reply to: Check into an SEP account!! - Nancy

that 100% of the money you would normally pay for federal, SS, Medicare, and city (if that applies to you) would be put into an SEP?

This totally boggles the mind!!!

Complete Discussion Below:

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Question for ICs - Meghan
- use this link - Snow Bunny
- Check into an SEP account!! - Nancy
  - are you saying - Snow Bunny
  - What an excellent idea - thanks! - Meghan
- No, this isn't too high. Maybe too low. We're in the - 33% bracket
  - And, does what you have hubby hold out extra count - Nyer
    - You are right - Patti
  - Oh yes. If you are penalized, you have to pay interest rates sm - x
- I am new to IC. - mtathome
- taxes - Patti
  - So you could end up getting more back at the end of the year - Meghan
    - deduct everything you can think of, electricity, phone, home office if you chose to, supplies, inter - Laura E.
      - Another problem with home office deduction - 33% bracket
        I can use the deduction now, and when old and ready to sell, hope sell price is high enough won't - sm
- about 25-33% for all US citizens as I know it....nm - it's really
- You have to remember that you have no employer sm - T
- Every quarter pay $1,000 to Uncle Sam and $200 to state. nm - Pay dem taxes

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