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Updated about 10 years ago on .
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A couple of Solo 401K questions
I know many on here are fans of Solo K plans. I cant find too much detailed info online and even my tax guy is not too familiar with them. So let me post my questions here for the experts
1. Does having passive rental income in an LLC qualify me to start a Solo K?
2. If I have access to a 401K at work, can I still open a Solo K? Does the max employee contribution still hold ie would it be 17.5K total in all plans?
3. Does it matter if my LLC has more than one member (other than spouse)?
4. Is the max annual contribution $17.5K plus 25% of company profits?
Thanks for your replies.
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#4 All Forums Contributor
- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
@Dmitriy Fomichenko may be able to offer some advice.