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

[cupcakegirl]

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]

Can You Have More Than One 401(k)?

There is no rule against having more than one 401(k) account. For people with a regular job that pays wages as well as a self-employment gig, it can make sense. However, the IRS restricts the total amount that can be … Continue reading → The post Can You Have More Than One 401(k)? appeared first...

www.yahoo.com

Above discusses the limits on contributions

 

[cupcakegirl]

Can You Have More Than One 401(k)?

There is no rule against having more than one 401(k) account. For people with a regular job that pays wages as well as a self-employment gig, it can make sense. However, the IRS restricts the total amount that can be … Continue reading → The post Can You Have More Than One 401(k)? appeared first...

www.yahoo.com

Above discusses the limits on contributions

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