How Much Can I Contribute To My Self-Employed 401(k) Plan?

By on February 19, 2016

The IRS says you can contribute up to $53,000 in your tax-deferred Self-Employed 401(k) for 2016. If you’re at least age 50, then you can make an additional $6,000 catch-up contribution, which increases your limit to $59,000. That’s $18,000 or $24,000 (age 50+) for the employee contribution and up to $35,000 for the employer contribution for a total contribution of $53,000 or $59,000 (age 50+).

Read the source article at Financial Samurai

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