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Posted on 12/29/13 at 9:34 am to roguetiger15
Solo 401k has 2 kinds of contributions
1. 17500 standard
2. Up to total of 51000 "profit sharing"
1. 17500 standard
2. Up to total of 51000 "profit sharing"
Posted on 12/29/13 at 12:50 pm to roguetiger15
From what I understand, correct me if I'm wrong, with a SEP you are allowed to contribute 25% of income up to $51,000.
Whereas a solo 401k you can contribute up to $17,500 flat, no matter you're income.
Whereas a solo 401k you can contribute up to $17,500 flat, no matter you're income.
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