So, the IRS updated key 401(k) contribution limits and there is good news not just for employees, but also the small business owners. Employees are allowed to save $500 more each year, which really adds up. For owners, the good news is that the threshold has been updated for highly compensated employees, and now stands at $120,000. This means that it may just make it easier for you to pass your non-discrimination tests this year!
You can now save more in taxes and possibly compensate top employees (including yourself) more.
2015 contribution limits
** What next?**
Well, the only logical next step is to speak with us. Let’s talk shop!