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401k max contribution
QuickBooks Payroll
06/12/09 5:37pm PDT, Viewed by asker 06/17/09 11:38am PDT
Total Views: 553
06/12/09 5:37pm PDT, Viewed by asker 06/17/09 11:38am PDT
Total Views: 553
Why is my employee 401k contribution max out at $15500? I though IRS guidelines were $16000. When I put in the additional $500, it is not taken out of the employee's pay.
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All Replies: Answers (1)
Rating + 10
Solved!
06/13/09 10:02pm PDT
You need to edit the payroll item and check to see if the limit there is current. You maintain this, not QB. Also, you can put a limit on an employee's Payroll & Compensation tab, for when someone qualifies for the makeup amount. If you set a limit in BOTH places, QB will use the lower of the two. So, set up the payroll item with $0 and set employees specifically, to avoid a conflict, if you have more than one limit.
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