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Retirement tax questions
@BertMerc The individual contribution limit for a 401K for 2021 was $19,500 ($26,000 if you are over 50). The overall contribution limit - which includes employer matching and any other money that finds its way in there - is $58,000 ($64,500 if over 50).
So you can match your employees contributions as long as the total contributed does not go over $64,500 for you and your wife individually (and you are keeping track of your income limitations).
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March 7, 2022
5:27 PM
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