2006-12-21 05:57:01 · 4 answers · asked by juniorramos1974 3 in Business & Finance ➔ Taxes ➔ United States
The answer is yes.
If you are talking about a SEP plan they would deduct the amount they are putting into your account as a business expense. Under the SEP rules this could be a amount from 1% up 25% of your earnings with them.
If you are talking about a SIMPLE IRA account you would have to contribute 3& of your salary to your account and they would have to match that amount. Again the matchin amount they add to your account is an expense to the business that they would deduct.
2006-12-21 06:56:01 · answer #1 · answered by waggy_33 6 · 0⤊ 0⤋
No, fairly sure they receive no tax breaks for this.
2006-12-21 06:00:21 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Yes they do. See this link.
http://www.pro1040.com/simplified_employee_pension.htm
2006-12-21 06:59:31 · answer #3 · answered by spicertax 5 · 0⤊ 0⤋
Don't think so.
2006-12-21 05:58:54 · answer #4 · answered by Drew P 4 · 0⤊ 1⤋