Re: SIMPLE IRA cap.

From: jmorgan@ecentral.com
Subject: Re: SIMPLE IRA cap.
Date: Mon, 25 May 1998 05:26:11 -0600

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> > So, suppose a sole proprietorship shows a profit of say, $5,000 on a
> > schedule C? What's the maximum that could be placed in a 401K?
> 
> The maximum that can go into a 401(k) plan is 15%.  You might want to
look at
> a SIMPLE IRA.  There is no 15% limit on the SIMPLE IRA.

There is a $6000 cap on contributions to a SIMPLE IRA.

J. Morgan




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