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?
Reply to
dow smith

Site Timeline Threads

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.