Is 56k limit from all sources per person when filing jointly? I am already at 30k 401k tax deferred and 26k after tax 401. Need to plan spouse pre tax 401k contributions accordingly. 401k Update: 18k pre tax self 12k pre tax match company 26k after tax approaching soon Max-d out 56k limit 18k pre tax partner contribution in partner 401k (planning) Goal: 2019 tax filing married jointly Tax deferred: 36k Possible?
I want to know too
How do you get 30k tax deferred without facing consequences?
The person is including company contributions.
Still too high
Following. If someone could give examples or links, because it's so confusing.
The limit is the total amount per year, per person. The cap for a person’s (an individual) contribution is 19k this year. The remainder (56k-19k=36k) can come from other sources. The other sources include employer contribution or if self-employed, the remainder comes from your “company.” The self-employed separation of contributions is a (necessary) paper work exercise.
There are 2 limits. One limit says that for 2019 the max amount that each person can put on Roth + pre-tax 401k is $19k. The other limit says that the max amount that can be contributed to each 401k plan is $56k. This means that if you change employers within the year, then you have 2 401k plans, so you can theoretically contribute $112k. However only $19k can be pre-tax + Roth. It also means that your wife’s contributions do not matter for the above numbers. And your contributions do not matter for your wife’s numbers.
Are you still at cisco? How are you getting 12k pre tax match? They only match 4.5%
y and ~250(base plus bonus) is all you need - but they can match upto irs limit 19k.
Google machine is broken. Can’t look it up.
Does the post tax money goto Roth 401K?
Cool story