IRA contribution instead of SIMPLE contribution
Usually, the “business” (of which I am half owner) makes a salary contribution to our SIMPLE plan and then makes a matching contribution.
That did not happen for 2007 and I was not apprised of this until it was too late to make a salary deferral (Jan 31). May I make a contribution to my regular IRA account before April 15 or am I ineligible to do that?
Permalink Submitted by Denise Appleby on Fri, 2008-03-21 01:51
As long as you have eligible compensation, such as W-2 wages, or earned income from self-employment, you can make an IRA contribution ( for the year) by the deadline