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Andrew Schwartz CPA
Oct 25, 2006 - 7:25AM
Re: solo 401K contributions

Looks like the maximum Solo 401k contribution for 2007 will be $45,000. That is comprised of deferrals of $15,500, plus an additional contribution equal to 20% of your net self-employment income.

Anyone 50 or older by 12/31/07 can contribute up to $50k in their Solo 401k, provided their income is high enough.

Zip Code: 01801

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