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Posted by gindie on February 2, 2007, 2:10 am
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We're trying to compute the maximum allowable contributions
for my wife's SIMPLE. She was the sole person in the
company.
Does the SUM of the employee-side contributions and
employer-side match have to be less than or equal to the net
income for the company, OR can the employee-side go right up
to the net income and then the employer match be added in?
We did the latter and TaxCut is telling us that we
contributed too much.
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