This template can help self-employed individuals calculate the maximum contribution they can make to a retirement plan. The maximum that you are allowed to contribute to a tax deductible plan is a percentage of earned income (adjusted net business profit less the contribution). This complicates matters. Because self-employed individuals are not paid a salary or wage, contributions to the plan reduce the taxpayer's earned income. Therefore, if you are self-employed and you want to contribute to a SEP-IRA, the maximum contribution is 15% of earned income which is the equivalent of 13.04% of adjusted net business profit.

To view the template, click the worksheet tab labeled Template at the bottom of the screen or press Ctrl-PgDn. With the exception of data entry cells, all cells are protected. Use the Tab key to move from one unprotected cell to the next.

 

Retirement Plan Contributions

Microsoft Excel 2010
Family Budget Planner Spreadsheet
Retirement Plan Contributions
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Template Details

Created By: Admin
License: Private Use
(Only for personal Use)

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