Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Also, I contribute to a 401k through my other job as well. Would I be able to max it out as well?

All of your 401k contributions from all of your employers including your solo 401k from a schedule C business are limited to $15k. ($20k if you're over 50.) So you can't put in $15k from each of these sources.


I'd say that's true with respect to the employee elective deferrals.
You're limited to the $15,000 personal maximum.

But you could do the $15,000 401k at your regular job and have then contribute based on the profits of the sideline business.

But you could accomplish the same thing with a SEP, with less paperwork (future 5500 filings); so that's the route I'd take.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.