02-22-2006, 12:31 PM
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 Re: Can I contribute to self 401K and SEP in same year? "Cherrybounce" <chdavi15[at]hotmail.com> wrote: - quote - > I contributed $11,500 to my individual 401K in 2005 and it
Not if it's the same Schedule C business. You must choose> turns out that I'll have more more SE income than I expected > (about $400,000K). Can I start and contribute to a SEP by > April 15th of this year for 2005? between the SIMPLE 401(k) and the SEP. If we're talking about a different business, see IRS Publication 560 for SEP contribution limits. -- Phil Marti Clarksburg, MD << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#-1
02-17-2006, 05:45 AM
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| Can I contribute to self 401K and SEP in same year? I contributed $11,500 to my individual 401K in 2005 and it turns out that I'll have more more SE income than I expected (about $400,000K). Can I start and contribute to a SEP by April 15th of this year for 2005? If so, what is the max I can contribute? << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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