Solo 401k Contributions
My wife has a Rover dog sitting business which is an LLC and there are no employees. Her annual gross income is usually around $15,000 and taxable income around $11,000. If she were to set up a Solo 401k, would the max allowable contribution in this example for a Roth Solo 401k be $15,000 and for a Traditional Solo 401k be $11,000? She does not have another job so she is not contributing to any other 401k. Thank you.
Permalink Submitted by William Tuttle on Wed, 2019-12-11 19:53