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c
Chad
Oct 7, 2005 - 7:04AM
solo 401K limits

Hi,
I have a solo 401k and am able to put away $42,000 in 2005. Does anyone know the contribution limit for 2006??

Thanks,
Chad

Zip Code: cshuff44@cox.net

h
Harry R. Wigler, CPA/PFS
Oct 7, 2005 - 8:48AM
Re: solo 401K limits

The contribution limit for a solo 401(k)is $43,000 for 2006.

Zip Code: harryrwiglercpa@aol.com

a
Andrew Schwartz CPA
Oct 7, 2005 - 11:10AM
Re: Re: solo 401K limits

And don't forget that anyone who will be 50 or older by December 31, 2006 can sock away an extra $5,000 into their Solo 401(k) next year, provided they don't contribute to a 401(k) plan or 403(b) plan through another employer.

Zip Code: cpa@mdtaxes.com

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