IRS Compensation Requirement To Deduct IRA Contributions
Understanding IRS Compensation for IRA Deductions It is important to understand how the IRS defines compensation in order to deduct your IRA contributions. For example:You own an S-Corporation and you are the single-member owner and employee. If you take a salary of $30,000.00 as W-2 wage, and then another $60,000.00 as a dividend (at a […]