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URL:  http://boards.fool.com/simple-ira-6000-limit-12059294.aspx

Subject:  SIMPLE IRA - $6,000 Limit Date:  2/27/2000  12:55 PM
Author:  Brad1973 Number:  30182 of 121144

According to IRS Pub. 560, "salary reduction contributions are subject to social security, Medicare, and federal unemployment (FUTA) taxes" when applied to a SIMPLE IRA.

If I was to contribute $6000, would I really be contributing the maximum allowable? To contribute the maximum possible, do I need to take into account the taxes which will be withheld and thus contribute more than $6000?

--Brad
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