Retirement Plans: SEP, SIMPLE, Qualified, Prohibited Tx
Free IRS Enrolled Agent SEE Part 2 (Businesses) lesson in Specialized Returns and Taxpayers. 16 min read, ~2,428 words.
2025 elective deferrals: 401(k), 403(b), and 457(b) = \$23,500; SIMPLE IRA = \$16,500; age-50 catch-up adds \$7,500 (\$3,500 SIMPLE); SECURE 2.0 ages 60-63 super catch-up = \$11,250 (\$5,250 SIMPLE). §415(c) DC annual additions = \$70,000; §415(b) DB annual benefit = \$280,000; §401(a)(17) compensation cap = \$350,000; HCE = \$160,000 lookback...
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What this lesson covers
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- Example 1
- Example 2
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