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Frequently Asked
Questions
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| Q: | What is the maximum amount I may contribute to my 401(k)?* | ||
| A: | Under 50: | Over 50: | |
| 2012 - 17,000 | 2012 - 22,500 | ||
| 2013 - 17,500 | 2013 - 23,000 | ||
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2014 -
17,500
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2014 - 23,000
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| Q: | How much may I contribute to my traditional or Roth IRA?* | ||
| A: | Under 50: | Over 50: | |
| 2012 - 5,500 | 2012 - 6,500 | ||
| 2013 - 5,500 | 2013 - 6,500 | ||
| 2014 -
5,500
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2014 - 6,500
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| Q: | How much may I contribute to my SIMPLE IRA? | ||
| A: | Under 50: | Over 50: | |
| 2012 - 12,000 | 2012 - 14,500 | ||
| 2013 - 12,000 | 2013 - 14,500 | ||
| 2014 -
12,000
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2014 - 14,500
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| Q: | How much may I contribute to my SEP IRA? | ||
| A: | SEP IRAs are a bit more complex but, in general, are limited to 25%; however, limits do apply: | ||
| 2012 - 50,000 | |||
| 2013 - 51,000 | |||
| 2014 - 52,000 | |||
| *Subject to income limitations | |||
Amy R. Cook, PC
1514 Corona Drive Austin, TX 78723
512.419.9696 / 512.233.1085 fax
amy@acookcpa.com
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Copyright© 2008 Amy R. Cook, PC