SIMPLE for a Non-Profit
My client is the founder and sole employee of a 501(3)(c) non-profit and is older than 50. Assuming he earns as much as $15.5K this year, is there anything to prevent him from contributing that amount to a SIMPLE?
My client is the founder and sole employee of a 501(3)(c) non-profit and is older than 50. Assuming he earns as much as $15.5K this year, is there anything to prevent him from contributing that amount to a SIMPLE?
Permalink Submitted by Alan - IRA critic on Sat, 2016-06-25 23:25
This SIMPLE Contribution can be made.
Permalink Submitted by David Mertz on Sun, 2016-06-26 11:47
If the client also makes elective deferals to a qualified retirement plan with another employer, the salary reduction contribution to a SIMPLE IRA may be limited, subject to overall deferral limits.