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I am working as a US military contractor overseas so I don't have to pay US income tax (form 2555), nor do I pay any foreign taxes. The only things I have to pay are FICA and medicare. I am currently investing 10% of my income into a 401(k) and believe that I should increase it to the maximum allowed.

My first question is, what is the maximum allowed? I know $10,500 is the max, but what is the max percentage allowed? I believe that I read 15% but my company insists that it is 20%. I am just trying to keep myself out of hot water.

My second question is - should I max out my 401(k)? I have already maxed out my Roth IRA.

Thanks for any insight you have,
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