The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Employer Contribution to SIMPLE-IRA||Date: 2/2/2002 11:36 PM|
|Author: CheetahChrome||Number: 58092 of 122849|
In 2001 I did some consulting & was paid in cash and stock.
As an employee, I made a $6,500 contribution to my SIMPLE-IRA.
An an employer, I made a contribution of 3% of the cash part of my earnings to this IRA.
1) Should I have included the FMV of the stock I received in the calculation for the part I contributed as an employer?
2) If so, can I still make an employer contribution to the SIMPLE-IRA for last year?
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