dr.j

That's a good point. In my profession, my income is virtually certain unless I suddenly become disabled.

Wise advice. I plan to contribute up to approximately $25k and then wait until my taxes are completed. At that point, I'll know how much additional profit sharing contribution I can make. I've noticed that there are several calculations for determining the profit sharing contribution limit. Do you have any IRS (or any other) references that will help me understand the "why" and "how"? For example, in your above calculation, why is the adjusted net business profit multiplied by 0.2?

I found a worksheet online from Fidelity that walked me through the calculation. The elective deferral limit for 2015 is $18,000. I have already contributed $12,838.56. That leaves me $5,161.44 left to contribute for 2015. For my employer contribution, I calculated $25,760. Pretty close to your numbers, although I'm calculating a higher elective deferral. THANKS!!

I opened my solo 401k with Fidelity, and I just spoke to their representative. There doesn't appear to be any limitation even though the "effective date" of my plan is 6/2015.

For the remaining 6 months of 2015, I am anticipating an additional $138k in 1099 income. What is my calculation for the employer contribution for 2015? I am under the age of 50. I GREATLY appreciate your help!

I'm sooooo glad I found this forum! Thank you in advance for any help you guys can give. Very timely indeed! Just this month, I have changed jobs from an employee (W2) to an independent contractor (1099). With my former employer (Company X), the following was contributed to my 2015 401k: Employee (tax-deferred) contribution: $12,838.56 EmployER Safe Harbor contribution: $5,646.70 As an independent contractor, I have elected to open a individual (solo) 401k for my small business (single employee - myself). I chose the solo 401k route because I can rollover my SEP-IRA into the solo 401k... which will allow me to make backdoor RothIRA contributions in the future. Question: I understand that my employEE (tax-deferred) contribution limit is maxed at $17,500 $18,000 across ALL plans. However, what is my solo 401k employER contribution limit for 2015? Is it $40,500 $35,500? Does the Company X Safe Harbor contribution count toward my solo 401k employER contribution? (corrected errors above) Thanks everybody!