:

minimum salary for my wife to max out simple ira contribution.

Hello everyone I own a small business and was thinking about paying my wife a small salary so she can contribute simple ira to her retirement account. I am thinking a salary of $13550 that will allow her to max out her simple ira contribution of $12500 that will still leave room to pay for 7.65% of medicare and SS tax which is around $1037. after simple ira contribution and medicare SS tax there will be almost nothing left to be taxed on federal income tax. Is my math correct? thanks
--
This email has been checked for viruses by Avast antivirus software. 
https://www.avast.com/antivirus
Reply to
dow smith

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.