Does the IRS 401 k contribution limit of $15,500 include the contributions made by ones employer ?
2007-05-24 09:17:12 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
No, the 2007 limit of $15,500 is for employee contributions only. The combined limit for employer and employee for 2007 is $45,000.
2007-05-24 13:18:10 · answer #1 · answered by aj485 5 · 0⤊ 0⤋
ninasgramm: the only 25% i might desire to discover is under, yet that's enterprise contributions, and "non-obligatory deferrals" are no longer subject to the shrink. you will be suited, yet what am I lacking? "defined contribution plans. The deduction for contributions to a defined contribution plan (income-sharing plan or money purchase 401-k) can not be extra advantageous than 25% of the repayment paid (or amassed) in the process the year on your eligible workers partaking in the plan. in case you're self-employed, you may desire to shrink this shrink in figuring the deduction for contributions you're making on your very own account. See Deduction shrink for Self-employed persons, later. while figuring the deduction shrink, here regulations be conscious. non-obligatory deferrals (pronounced later) are no longer subject to the shrink."
2016-11-05 06:43:59 · answer #2 · answered by ? 4 · 0⤊ 0⤋
No, just includes the employee contribution.
2007-05-24 14:42:03 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
No.
2007-05-24 09:20:55 · answer #4 · answered by regerugged 7 · 3⤊ 0⤋