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Career & Work

Self-Employed Retirement Plan Maximum Contribution Calculator

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3.589474/5

Compensation for a self-employed individual (sole proprietor or partner) is that person's "earned income."* The starting point to determine the individual's earned income is the net profit amount from the Schedule C (or Schedule K-1 for a partnership). Use this calculator to determine your maximum contribution amount for a Self-Employed 401(k), SIMPLE IRA and SEP based on the assumptions you input. *Earned Income = Net Profit - 1/2 of Self-Employment Tax - Contribution

Plan Information	Input
Type of business	Sole Prop/PartnerCorporation
Contribution tax year	20072008
Current age	(1-99)
Net profit from Form 1040-Schedule C	$

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Determine Amount of Contribution
Type of business
Contribution tax year
Maximum Profit Sharing contribution
+ Maximum 401(k) contribution
+ Maximum 401(k) catchup
= Maximum Self-Employed 401(k) contribution
SIMPLE IRA contribution
+ SIMPLE IRA catchup
= Maximum SIMPLE IRA contribution
Maximum SEP contribution

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This calculator is provided by Financial Calculators, Inc., and is intended solely for general information and educational purposes. You should not take any action on the basis of the information provided through this calculator. Please see the disclaimer for further information and limitations.

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Rates

See today's average rates across the country.

• Mortgage

  Loan Type	Today	Last Week
  30 Year Fixed	6.42%	6.09%
  15 Year Fixed	5.94%	5.63%
  1 Year ARM	6.30%	6.20%
  30 Year Fixed Jumbo	7.42%	7.19%
  5/1 ARM	5.85%	5.51%
  3/1 ARM	5.70%	5.39%

  Source: Bankrate
• Home Equity

  Loan Type	Today	Last Week
  $30K Home Equity Loan	7.55%	7.66%
  $50K Home Equity Loan	7.26%	7.42%
  $75K Home Equity Loan	7.27%	7.43%
  $30K HELOC	4.70%	4.67%
  $50K HELOC	3.96%	4.13%
  $75K HELOC	3.95%	4.12%

  Source: Bankrate
• Savings

  Savings Type	Today	Last Week
  6 month CD	3.06%	3.00%
  1 year CD	3.47%	3.42%
  3 year CD	3.78%	3.72%
  MMA	2.38%	2.40%
  $10K MMA	2.55%	2.57%
  $25K MMA	2.89%	2.91%

  Source: Bankrate
• Auto

  Loan Type	Today	Last Week
  36 Month New Car Loan	6.82%	6.81%
  48 Month New Car Loan	6.86%	6.85%
  60 Month New Car Loan	6.51%	6.50%
  72 Month New Car Loan	6.32%	6.32%
  36 Month Used Car Loan	7.16%	7.15%
  48 Month Used Car Loan	6.85%	6.84%

  Source: Bankrate
• Credit Cards

  Card Type	Today	Last Week
  Balance Transfer	10.31%	10.03%
  Low Interest	11.01%	10.97%
  For Bad Credit	13.02%	13.12%
  Cash Back	11.47%	11.46%
  Business	11.10%	10.91%
  Airline	12.75%	12.69%

  Source: CreditCards.com

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