Solo 401k Contribution Deadlines

2021 Solo 401k Contribution Deadlines Tax Entity Type 2021 Contribution Deadline 2021 Extension Contribution Deadline Sole Proprietor (Schedule C)April 15th, 2022October 17th, 2022LLC (Schedule C)April 15th, 2022October 17th, 2022PartnershipMarch 15th, 2022September 15th, 2022S-Corporation (Employer Contribution)March 15th, 2022September 15th, 2022S-Corporation (Employee Contribution)January 31st, 2022Not EligibleS-Corporation (Non-Deductible Employee)March 15th, 2022September 15th, 2022 2022 Solo 401k Contribution Deadlines…

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Backdoor Roth IRA Pro Rata Rule Explained

Backdoor Roth IRA Pro Rata Rule Explained

The Pro Rata Rule is required when you convert a traditional retirement plan, whole or in part, to a Roth IRA and the traditional IRA has both aftertax and pretax money. The premise of the pro rata rule is to prevent higher-income earners from taking advantage of the backdoor Roth conversion without incurring additional taxes.…

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Roth IRA Contribution & Income Limits 2022

Roth IRA + Traditional IRA Contribution Limits 2022 IRA + Catchup Contribution 2021 2022 Roth IRA$6,000$6,000Roth IRA Age 50+$7,000$7,000Traditional IRA$6,000$6,000Traditional IRA Age 50+$7,000$7,000 Roth IRA Income Limits Filing Status 2022 Roth IRA Income Range 2023 Roth IRA Income Range Single$129,000-$144,000$138,000-$153,000Married Filing Jointly$204,000-$214,000$218,000-$228,000Married Filing Separately$0-$10,000$0-$10,000 Traditional IRA Income Limits Filing & Workplace Status 2021 IRA Income…

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