08-13-2005, 10:27 PM
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i have man boobies
Join Date: Jul 2003
Location: van down by the river
Posts: 13,082
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Quote:
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Originally Posted by Lenny2
On a single person 401(k) you're allowed to put the first 14K of your salary into it, and then you're allowed to do a company contribution of up to 25% of your company's profits, for a total of up to 40K.
Now the 14K may be the deal with 15% of your salary up to 14K per year...but then you have the company match also.
Check with a tax advisor for details....this is something I heard recently on the "Start Late Finish Rich" audio book. I still have to ask my accountant about it.
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http://personal.fidelity.com/product...cc/keogh.shtml
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