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#2
03-13-2006, 06:17 PM
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 Re: 401K Max Deduction per paycheck As long as you don't exceed the max limit in an year. I don't think this would be a problem. << ================================================== ===== > << 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
03-13-2006, 06:16 PM
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| Re: 401K Max Deduction per paycheck Last year I took all 14k in last month. It is my business and solo 401k believe allows that. << ================================================== ===== > << 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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03-13-2006, 05:56 PM
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| Re: 401K Max Deduction per paycheck <sameergn[at]gmail.com> wrote - quote - > I have a solo-401K plan from ADP (Owner only business). The
You can fund your entire contribution limit in one paycheck> plan's minimum and maximum per paycheck contribution limits > are 1% to 90%. Is it a problem with IRS if we deduct more > than 50% per paycheck to catch up to the 14K limit if one > starts late in the year? if you like, and are able to. -- Paul Thomas, CPA paulthomascpapc[at]bellsouth.net << ================================================== ===== > << 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
03-12-2006, 08:06 AM
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| 401K Max Deduction per paycheck I have a solo-401K plan from ADP (Owner only business). The plan's minimum and maximum per paycheck contribution limits are 1% to 90%. Is it a problem with IRS if we deduct more than 50% per paycheck to catch up to the 14K limit if one starts late in the year? Thanks, Sameer << ================================================== ===== > << 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. > << ================================================== ===== > |
| Tags |
| 401k, deduction, max, paycheck |
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