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Many financial firms charge fees and commissions to simply manage assets. At Buttonwood we focus on your complete financial picture: Tax, Estate, Insurance, Gifting, Cash Flows, Business Planning and more. That's Buttonwood Wealth Management!
As wealth builds life doesn't get simpler - it gets more complex! Our mission is to assist our clients in organizing and taking control of their financial lives.
401(k) Plans
The 401(k) pay-in maximum remains at $16,500 in 2010. Employees who were born prior to 1960 can contribute an additional $5,500 for a total of $22,000. These contribution limitations apply to 403(b) and 457 plans as well.
Plan contributions can be based on up to $245,000 of compensation in 2009. The pay-in limit for Defined Contribution plans is $49,000
IRA and Roth IRA Plans
This year remains the same as to the amount of contribution to your IRA (or Roth IRA), at $5,000 for 2010. Persons age 50 or older in 2010 can put an extra $1,000 in an IRA (or Roth IRA) on top of the regular $5,000 ceiling.
SEP Plan
The annual limit on the amount of employer contributions to a SEP remains constant at the smaller of: 25% of eligible employee’s compensation or $49,000. The maximum amount of an employee’s compensation you can consider when figuring SEP contributions (including elective deferrals) and the deduction for contributions is $245,000.
If we can assist you with a review of your Retirement plan don't hesitate to contact Vince or Jon at 816-285-9000. |
