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Get your taxes done using TurboTax
In looking at this again, I think that $8,128 is the maximum elective deferral. It appears that you might also be permitted a matching contribution of 3% of compensation (compensation being equal to net earnings). That would be $8,128 * 0.03 = $244. Added to the $8,128 of elective deferrals, that would total $8,372. You might want to check with your SIMPLE IRA custodian on this.
Schwab's calculator for this seems to confirm this:
<a rel="nofollow" target="_blank" href="https://client.schwab.com/secure/file/P-8689676/MKT85883.pdf">https://client.schwab.com/secure/file/...>
Schwab's calculator for this seems to confirm this:
<a rel="nofollow" target="_blank" href="https://client.schwab.com/secure/file/P-8689676/MKT85883.pdf">https://client.schwab.com/secure/file/...>
‎June 6, 2019
6:07 AM