TWO 401(k) Plans

Probably an easy question.

I work one job as a full-time employee and I max out my ee contribution by contributing $18,000 into the plan.  I guess it has gone up this year a bit.

I also have a side business where I am the only employee.  I know I can't put any more into a 401(k) account for that business as I am maxing out my contributions into my W-2 job.  My question is:

If I am making $80K in the side business, what would be the most I could contribute to the second plan? If it matters, I am an LLC , but I file taxes as an S-corp.

Thanks.

You can put away 25% of whatever you pay yourself on your W-2.  Your best plan may be a SEP.  The $18,000 in an individual taxpayer limit as well as a deferral limit for a single plan.

Good Luck!

I would advice you get a little help from a professional who can help you with the limits.   I would recommend someone beyond a mere investment advisor/salesman.  

As ETA says you can't put any more 401(k) deferrals into any plan you start.  However, there are other types of contributions you can put into these kinds of plan. 

There are a number of limits and they can interact with each other.  It can be expensive if you go over a limit. 

The short answer is "yes" there is room for more to be put into some type of plan. 

The short answer is: 25% of your W-2 from the S Corp.