Tag Archives: irs publication 560

Solo 401k Contribution Rules – Do I need to deposit my employee contributions before year-end?

Question: I have a Solo 401k for my self-employed business.  My CPA has advised me that for 2016 I am eligible to make an $18,000 salary deferral (employee contribution) and $10,000 profit-sharing contribution (employer contribution).   Do I need to deposit my employee contribution before December 31, 2016? My CPA is not sure & when I […]

Solo 401k Eligibility

A solo 401k plan has become the retirement account of choice over SIMPLE IRAs and SEP IRAs for the self employed, whether employed as a sole proprietor, independent contractor, consultant, through an LLC,  Partnership or Corporation entity type. In order to take advantage of what a Solo 401k has to offer—for example, high contributions, solo […]