contribution limits | Ed Slott and Company, LLC

contribution limits

Beneficiary RMD Rules and 401(k) Contribution Limits: Today’s Slott Report Mailbag

Question: Someone participates in a 401(k) through his regular employer and has a solo 401(k) for a side job (self-employed). That person maxed out his 401(k) pre-tax deferrals for 2021 through the regular 401(k) and utilized the remaining limit up to $58,000 for a Mega Backdoor Roth contribution via after-tax contributions. Is he eligible for any solo 401(k) contributions for 2021 (not catch-up eligible)? What am I missing here?

Making a 2020 Roth IRA Contribution

The IRS has delayed the deadline for filing federal income taxes until May 17, 2021. This also extends the deadline for making a 2020 Roth IRA contribution. A Roth IRA offers the promise of tax-free withdrawals in retirement if you follow the rules. If you are deciding whether a 2020 Roth IRA contribution is the right move for you, here are some things to keep in mind.

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