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Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7067
Experience:  Extensive Experience with Tax, Financial & Estate Issues
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S corporation - can I contribute to a 401k plan - not

Customer Question

s corporation - can I contribute to a 401k plan - not through w2
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: but through the s corp
JA: Is there anything else the Accountant should be aware of?
Customer: and where do I report on 1020s
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two.
Submitted: 1 year ago.
Category: Tax
Expert:  Stephen G. replied 1 year ago.

The 401(k) has to be established by December 31st of the tax year you are filing the 1120(S) for.

You can use a self-employed 401(k) if you don't have any employees other than your spouse

Expert:  Stephen G. replied 1 year ago.

Do you have any additional follow-up questions?

If not, please remember to rate my response as that is the only way we receive credit for our work.

Thanks very much,

Steve G.