sjrcpa
Level 15

I think Accountant Man was answering this:

"Can you explain when to use the Profit-sharing (25%/1.25) (1=maximum) field versus the Self-employed SEP (25%/1.25) (1=maximum) field?"

 

Anyway, a 401(k) is not a SEP. A 401(k) is a type of Profit Sharing Plan.


The more I know the more I don’t know.