The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: 401(k) and IRAs||Date: 6/19/2003 9:54 AM|
|Author: buzman||Number: 36578 of 77570|
you maxed out your deductible contributions to the 401(k) and contributed more to the SEP-IRA. Since those contributions come from the "employer", do you personally report that as income and, either way, is it deductible?
I don't mean to be picky, but 401-k plans allow for elective deferrals
for the employee, they are not deductible.
Contributions to a SEP-IRA are a deductible expense so the maximum contribution rate is lowered from 25% to 20% for self-employed income.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|