Hello Everyone,
In my current practice, I am set up as an S-corp. Because of this, I was able to set up a solo 401k and have already contributed the max 53k for 2016. In July, I will be changing jobs and in my new position, I will be paid a W2 and will no longer be set up as an S-corp.
For my new job, am I eligible to make additional pre-tax contributions to a new account, such as a new IRA with a contribution of 18k? Or are my pre-tax contributions already maxed, despite now changing and becoming a W2 employee?
Thanks for your help.
In my current practice, I am set up as an S-corp. Because of this, I was able to set up a solo 401k and have already contributed the max 53k for 2016. In July, I will be changing jobs and in my new position, I will be paid a W2 and will no longer be set up as an S-corp.
For my new job, am I eligible to make additional pre-tax contributions to a new account, such as a new IRA with a contribution of 18k? Or are my pre-tax contributions already maxed, despite now changing and becoming a W2 employee?
Thanks for your help.
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