solok contribution
Good afternoon:
Under solo 401k, could the owner not make contribution as employee and just as employer?
Thank you so much!
Good afternoon:
Under solo 401k, could the owner not make contribution as employee and just as employer?
Thank you so much!
Permalink Submitted by Denise Appleby on Thu, 2008-04-10 19:24
Yes. You are right.
The contributions that can be made to these plans are employee salary deferrals and employer-profit sharing contributions.
So -for plan purposes -the business wears two hats ( or steps into two shoes) depending on whether you want to look at it from the top or bottom. 😆 🙂
See http://www.retirementdictionary.com/SBO-401k.htm