Employer Contributions Explained
Understanding employer contributions to a 401K can be complex, especially for the self-employed. It's crucial to determine your self-employment income accurately, as it dictates the maximum allowed contributions. For clarity, utilizing IRS Publication 560 can provide valuable guidance, particularly its worksheet in chapter five, which helps in calculating contributions effectively. Waiting until the end of the year to finalize these decisions often makes the most sense for many individuals.In this clip
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409 | 401(k), Mega Backdoor Roth and the Premium Tax Credit | Sean Mullaney
Related Questions
How much should you contribute to a 401(k) as discussed in the episode EOY Deadlines: Reduce Your Taxes & Maximize Your Money #572 and the clip Maxing Retirement Accounts?
How much should you contribute to a 401(k) as discussed in the episode EOY Deadlines: Reduce Your Taxes & Maximize Your Money #572 and the clip Maxing Out Retirement?
How much should you contribute to a 401(k) based on the episode EOY Deadlines: Reduce Your Taxes & Maximize Your Money #572 and the clip Maxing Retirement Accounts?