Solo 401K for LLC and S-Corp

[Michael Hammond]

All, I've read there are better tax advantages for using an LLC for rentals and an S-Corp for flipping. I have had an LLC and recently set up an S-Corp to start doing rehabs. I like the control features of the Solo 401K, however, will I need to set up one each for the LLC and the S-Corp? I have done nothing yet.

[Brandon Hall]

@Dmitriy Fomichenko thanks for the mention. 

@Michael Hammond you've described the typical entity structure, however, I've found after working with all of my clients that every situation is unique and "typical" rarely makes sense. It's best to consult with a CPA and attorney to be advised on both the tax and legal issues with your entity structure. 

Hope this helps!