How to split profits between husband and wife from flips as sole proprietorship?

[Michael Gao]

Hi,

I am currently doing flips as a husband and wife team. I "hire" my wife to do research for me on deals and I make offer to close the deals and hire GC to do the fix work for me.

This year, I opened a "Keogh profit sharing plan" (solo 401k) under my name at Fidelity for both of us for tax deferral contributions. AFAIK, there are two components in solo 401k deferral: a) salary deferral by the "employee" and b) profit sharing by the "employer". However, I am not sure how to split the profits between us for the purpose of contribution.

What's a reasonable split? If someone has an example, that would be great!

Thanks!
Michael