For 2004: A: Employees under 50 can contribute up to 100% of their earnings (not to exceed $13,000) as an employee contribution to their Solo 401k plan. (Employees who are older than 50 (or who turn 50 in 2004) can contribute up to 100% of their earnings not to exceed $16,000) as an employee contribution to their 401k plan. For 2005: A: Employees under 50 can contribute up to 100% of their earnings (not to exceed $14,000) as an employee contribution to their Solo 401k plan.

The maximum for pre-tax or "Salary Savings" contributions under IRC Section 401(k) limitations is the lesser of $15,000 for the year 2006 (plus $5,000 "catch-up" contribution for 2006 calendar year). Other limitations on contributions, such as total contribution (combined employee and employer) or testing requirements, may reduce that maximum for a specific employee, plan, or plan year. See similar questions...

Incorporated employers can contribute up to 25% of their W-2 earnings as an employer contribution to their 401k plan. You may not make an employer contribution or employer profit sharing or employer matching contribution to a ROTH 401k account. Unincorporated employers can contribute up to 20% of their self-employment income* as an employer contribution to their 401k plan (in addition to the allowable employee contributions (see above). See similar questions...

The Health Care Reimbursement Account maximum is $5,000. The Dependent Care Reimbursement Account maximum is $5,000 per family, per plan year. ($2,500 if married filing separate Federal Income Tax returns.) See similar questions...

Employer contributions are limited by the total participating compensation and testing requirements for the employee and Plan levels. Generally, the total contribution for an individual employee would be limited to the lesser of 25% of recognized compensation or $44,000 for the year 2006. On the Plan level, the total employer contributions is limited to 25% of total participating compensation. See similar questions...

Answer: On filing 2005 Tax Return, you must have received Notice of Assessment from Canada Revenue Agency. Your 2006 RRSP limit is shown on it. At the same time, you will have to consider 'undeducted amount' on the same Notice as well as your obligation under Home Buyers'/Life-long Learning Plan(s). If you require any assistance in this connection, please visit any Softron Location. See similar questions...

In accordance with the Arizona enabling legislation, the balance in all state tuition programs as defined in ?529 of the Code may not exceed the lesser of: a) 7 times the average one year's undergraduate tuition, fees, room and board at the ten independent 4 year eligible educational institutions as measured and last published by the College Board Independent 500 College Index that have the largest total direct charges. See similar questions...

SPP is designed to be very flexible and to accommodate your individual financial circumstances. These is no minimum contribution. Even contributing $10 per month will build your SPP account and provide you with additional pension at retirement. The maximum contribution is $600 per plan year. See similar questions...

The law provides that the employee may make up elective deferrals to the extent that the employee could have made them (see Code section 414(u)(2)(B)). These deferrals are adjusted for any elective deferrals actually made during the period of qualified military service. Return to List of FAQs See similar questions...

Great news! Effective January 1, 2007, the rules now allow greater employer contributions for lower-paid employees. Previously, employer contributions under the comparability rules had to be the same amount or percentage of the deductible for all employees with the same category of coverage. Consequently, employers could not contribute higher amounts to lower-paid employees. See similar questions...

employee can contribute up to $15,500 pre-tax to each plan in 2007 and beyond. If the employee is age 50 or older, the employee can contribute up to an additional $5,000 to each plan in 2007 and beyond. See similar questions...

The IRS currently does not require that states count your investment in other state 529 plans when applying their own contribution limits. And there are no "contribution police" out there looking for people who are intent on using multiple states to stuff hundreds of thousands of dollars into 529 plans as a kind of tax shelter. See similar questions...

The maximum amount you can contribute into your HSA is IRS contribution limit ($2,850 for single coverage and $5,650 for family coverage in 2007), whichever is lower. You might also be allowed to make a catch up contribution up to $800 if you are over age 55. The SHPS HSA contribution calculator can help you determine how much to contribute. See similar questions...

There is no annual limit on the amount you may contribute. However, there is an overall maximum account balance limit of $235,000 which applies to all accounts opened for a beneficiary (including amounts deposited in the Michigan Education Trust program, a prepaid tuition program established by the State of Michigan). See similar questions...

Do not withhold more than 50 percent of the employee's disposable income unless the court order specifically says to do so. Never withhold more than 65 percent. See similar questions...

Of course! After all, this is a special tax-favored account--our friends in Washington are not going to let you write-off unlimited amounts under this program. Under current tax law, the maximum amount you can contribute and deduct each year is determined by the size of your deductible. If you have an individual plan, the maximum is 65% of your deductible amount. If you have a family plan, the maximum is 75% of your deductible amount. See similar questions...

The maximum contribution to a Traditional IRA is $3,000 or 100% of earned income per tax year, whichever is less. You must reduce this contribution by the amount contributed to a Roth IRA in the same year. Yes. IRA holders age 50 and older may contribute an extra $500 to their IRA in addition to their regular contribution. See similar questions...

For 2007, the maximum you may contribute to a Health Savings Account (HSA) is $2,850 for single coverage or $5,650 for family coverage. For 2008, the maximum you may contribute to a Health Savings Account (HSA) is $2900 for single coverage or $5800 for family coverage. Minimum HDHP deductibles are $1,100 for individuals and $2,200 for families. See similar questions...