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Posted by Phil Marti on January 16, 2008, 5:21 pm
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> I've had a SE-401K for several years which I fund via sole-prop
> consulting
> income at the maximum deferral + 25% of profits (e.g. 15500 + 25% for
> 2007).
> I also have a small C-corp that is a totally separate business
> with about 5 employees which currently has no retirement plan.
> If I establish a SIMPLE-IRA for 2008 for the C corp and participate
> at the maximum deferral + company match
> can I still contribute to the SE-401K up to the maximum levels such
> that the total
> deferral of both plans is less than the maximum 401K deferral (which
> is more
> than the IRA maximum deferral) ?
Yes. The SIMPLE deferrals are a subset of your total deferrals, so as long
as your total deferral from all sources doesn't exceed $15,500, you're fine.
The profit sharing limits are per individual per employer, not per
individual across all employers.
See Pub 525.
--
Phil Marti
Clarksburg, MD
--
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