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Solo 401k Employer Contribution
Old 10-20-2020, 03:22 PM   #1
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Solo 401k Employer Contribution

I have a solo 401k and I maxed out the employee contributions. But I won't be able to calculate the exact salary for the employer contribution until after the December 31st deadline. What happens if I go over the 25% employer contribution?
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Old 10-20-2020, 03:27 PM   #2
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You can make the employer contribution at any time up until you file your business tax return. I normally make most of my employer contribution between Dec 31 and filing my business return.
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Old 10-20-2020, 04:22 PM   #3
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Quote:
Originally Posted by One Tough Puppy View Post
I have a solo 401k and I maxed out the employee contributions. But I won't be able to calculate the exact salary for the employer contribution until after the December 31st deadline. What happens if I go over the 25% employer contribution?
The deadline is not December 31, but April 15 of the following year.

https://www.sensefinancial.com/solo4...-contribution/
Quote:
A sole proprietorís Solo 401(k) contributions for a profit-sharing component must be made by the tax-filing deadline (April 15, or October 15 if an extension was filed).
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Old 10-20-2020, 05:06 PM   #4
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I calculate mine when I'm doing my business taxes. HSA and SEP/IRA contributions can be made up until tax day the following year.
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