GoFuckYourself.com - Adult Webmaster Forum - View Single Post - US Income tax breaks for higher incomes

Snake Doctor · 08-13-2005, 10:30 PM

http://www.401khelpcenter.com/mpower...re_070502.html

http://www.smartmoney.com/fp/index.cfm?story=0904401k

A little more info there.

There are some catches, it's kind of tricky if you have any employees, but if you don't it's a sweet deal.
Also, according to the smart money site you can put 40K a year into a SEP-IRA as well.

Under these guidelines, an individual under age 50 with earned income of $100,000 who is the sole employee of an incorporated business could contribute a maximum of $25,000 to a SEP-IRA, $12,000 to a SIMPLE IRA, and $38,000 to a solo 401(k) (consisting of a $13,000 salary deferral plus an employer contribution of $25,000). Someone with $150,000 in W-2 income could contribute as much as $37,500 to the SEP-IRA, $13,500 to the SIMPLE IRA, and $41,000 to the solo 401(k).

08-13-2005, 10:30 PM
Snake Doctor I'm Lenny2 Bitch Join Date: Mar 2001 Location: On top of my soapbox Posts: 13,449	http://www.401khelpcenter.com/mpower...re_070502.html http://www.smartmoney.com/fp/index.cfm?story=0904401k A little more info there. There are some catches, it's kind of tricky if you have any employees, but if you don't it's a sweet deal. Also, according to the smart money site you can put 40K a year into a SEP-IRA as well. Under these guidelines, an individual under age 50 with earned income of $100,000 who is the sole employee of an incorporated business could contribute a maximum of $25,000 to a SEP-IRA, $12,000 to a SIMPLE IRA, and $38,000 to a solo 401(k) (consisting of a $13,000 salary deferral plus an employer contribution of $25,000). Someone with $150,000 in W-2 income could contribute as much as $37,500 to the SEP-IRA, $13,500 to the SIMPLE IRA, and $41,000 to the solo 401(k).