Simplified Employee Pension Plan (SEP-IRA)
IRC § § 402(h) and 415 limit the amount of contributions made to an employee’s SEP-IRA to the lesser or $53,000 or 25% of the eligible employee’s compensation.
401(K) Limit
The 2016 maximum employee contribution is $18,000
Tax Tip: Contribution may be made until the filing of the tax returns, including extensions through October 16,2017 for a SEP
Tax Tip: Maximize your contribution and benefit from most employers’ matching policy for a 401k.
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