USA Self-employed with two 401K's. How calculate contributions?

Joined
Apr 21, 2022
Messages
2
Reaction score
0
Country
United States
I am self-employed with two state formed LLC's and two 401k's. I am trying to determine how much can be contributed to the second 401k. I have maxed out the employee contribution at $19,500 via the first 401k. I gather that I can contribute up to 25% of net income to the second 401k as an employer?

Also, what is the best method of figuring how much I can contribute as an employer and employee? I have been using the Fidelity self-employed contribution worksheet.

Thanks in advance for any thoughts!
 

kirby

VIP Member
Joined
May 12, 2011
Messages
2,446
Reaction score
333
Country
United States

Above discusses the limits on contributions
 
Joined
Apr 21, 2022
Messages
2
Reaction score
0
Country
United States

Above discusses the limits on contributions
Thanks but I need information on how to make the calculations not the limits.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top