401k max contribution
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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dvSncsv7er3QVhacfA8pyY
06/12/09 5:37pm PDT
Viewed by asker 06/17/09 11:38am PDT
Viewed by asker 06/17/09 11:38am PDT
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qbteachmt
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The solution
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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