Search found 2 matches

by fabdan
Thu May 18, 2017 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: MAGI Calculation with SCorp / SEP
Replies: 2
Views: 407

Re: MAGI Calculation with SCorp / SEP

Thanks for the answer. Yes the $26K reflects the SEP deduction, taxes, expenses...
You're right I may have to use the solo 401K to reduce the MAGI more... but at least for this year with MAGI < 186K, I will be able to use the full Roth IRA so that's good. Thanks!
by fabdan
Wed May 17, 2017 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: MAGI Calculation with SCorp / SEP
Replies: 2
Views: 407

MAGI Calculation with SCorp / SEP

Hi, I am trying to evaluate if my wife and I will be eligible to contribute for the RothIRA for this year (2017), but I am confused on how to calculate my MAGI. We are a married couple. - Wife: Gross income=$62,000. 403B Contribution=$18,000 - Husband : Work as employee of SCorp. Gross income of SCo...