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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: | |
| 2008 - 15,500 | 2008 - 20,000 | ||
| 2009 - 16,500 | 2009 - 22,000 | ||
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2010 -
16,500
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2010 - 22,000
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| Q: | How much may I contribute to my traditional or Roth IRA? | ||
| A: | Under 50: | Over 50: | |
| 2008 - 5,000 | 2008 - 6,000 | ||
| 2009 - 5,000 | 2009 - 6,000 | ||
| 2010 -
5,000
|
2010 - 6,000
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| Q: | How much may I contribute to my SIMPLE IRA? | ||
| A: | Under 50: | Over 50: | |
| 2008 - 11,000 | 2008 - 13,500 | ||
| 2009 - 11,500 | 2009 - 14,000 | ||
| 2010 -
11,500
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2010 - 14,000
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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: | ||
| 2009 - 49,000 | |||
| 2010 - 49,000 | |||
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