Welcome to the MDTAXES Message Board

The MDTAXES Network is an affiliation of CPAs that specialize in the tax planning and preparation for young health care professionals.  Please leave your questions or comments for our CPAs, who visit the message board regularly, or review the answers, suggestions and ideas posted in response to your colleagues' questions.

Please check out our other Message Boards available at www.FindAGoodCPA.com.

Please note: We are NOT affiliated with the Maryland Tax Department. If you're looking for information about Maryland income taxes, go to www.marylandtaxes.com.

Return to Website  > Index  > General Tax Issues  > Retirement Planning  > Re: Solo 401k and the iterations ther...
Recent Posts
 
Retirement Planning
Start a New Topic 
Author
Comment
View Entire Thread
a
Andrew Schwartz CPA
Jul 10, 2011 - 8:43PM
Re: Solo 401k and the iterations thereof ...

This depends on what your wife will be doing for your practice. Most likely, you'll need to put her on payroll. Pay her $18k, and she can max out her 401k salary deferrals of $16.5k.

Also, you can have a Solo 401k even if your wife is on payroll of the practice. To maintain a 401k, the only people who work more than 1,000 per year for the practice can be the business owner and his or her spouse.

Zip Code: 01801

Return to Website  > Index  > General Tax Issues  > Retirement Planning  > Re: Solo 401k and the iterations ther...