An LLC was set up with 8 medical consulting partners. Can the SEP IRA be set up now by the LLC and funded for the 2006 year by the LLC in 2007 and also for 2007 that same year? I presume that taxes will be filed April 15, 2007 for 2006.
I suppose that the contributions to the SEP will be deducted from the parners' income... by the LLC?