SO:

My total 401(k) contributions from ALL employers are limited
to $15,000 this year.

Does the above $15,000 INCLUDE SIMPLE-IRA contributions for
my business? Or would that be an ADDITIONAL amount I could
contribute from my profits?

Thank you for your help.

<< ================================================== ===== > << 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. > << ================================================== ===== >

"SCorp" <ihans[at]hotmail.nospam.com> writes:

- quote -

Your total 401(k) contributions are limited to $15,000.

However, the allowable employer contributions to the 401(k)
plans and the SIMPLE-IRA are not affected by the others. So
each employER can contribute the max amount allowed by law
and your compensation.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

<< ================================================== ===== > << 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. > << ================================================== ===== >

"SCorp" <ihans[at]hotmail.nospam.com> wrote:

- quote -

No. The $15,000 salary deferral limit is per *person*. The
SIMPLE limit is a subset of that.

--
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. > << ================================================== ===== >

If I work for multiple employers with 401(k) retirement plans,
and have a business on the side earning a small amount of money
(with a SIMPLE IRA), can I contribute the maximum under EACH
employer?

Or am I limited to TOTAL CONTRIBUTIONS of $15,000 for all of
the retirement plans for 2005?

Thank you for your help.

<< ================================================== ===== > << 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. > << ================================================== ===== >