The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/employer-contribution-to-simple-ira-16623563.aspx

Subject:  Employer Contribution to SIMPLE-IRA Date:  2/2/2002  11:36 PM
Author:  CheetahChrome Number:  58092 of 121179

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?

--
Cheetah

Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us