Thanks.. it is complicated..
in 2019.. made 122k as a contractor.. Contributed 25k to my individual 401k (over 55) and then 22k from profit sharing.. for total of $47k
You are suggesting i can only contribute 20 pct of profit sharing, so need to take away 50 pct of my social security/medicare ($9300) and then 36k in healthcare..
So would only be able to contribute around 15k from profit sharing.. oh dear
