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I have a tax question. Regarding 401K solo. I understand
I have a tax question. Regarding 401K solo.I understand that a self employed May make him maximum contribution of $18,000 for 2017 If other rules are meant like self-employment income limits etc.There… read more
ABC Accounting Group
ABC Accounting Group
Bachelor's Degree
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My wife and I have an LLC consulting company. we started
my wife and I have an LLC consulting company. we started using ADP for our 401 k plan this year. we also started using w-2 for our income. we did not have ADP take any retirement contributions out for… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I made improper ROTH 401k contributions to my SOLO 401k, How
I made improper ROTH 401k contributions to my SOLO 401k, How do i go about correcting that? … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
4,156 satisfied customers
Lane, if I am both self employed and employed (both a
Hi Lane, if I am both self employed and employed (both a schedule A and C), what determines how much I can elect to defer to a solo 401K (from the perspective of both an employee and the employer, bot… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
15,481 satisfied customers
I have a question about my solo 401K plan. I own an s-corp
I have a question about my solo 401K plan. I own an s-corp and am the only owner/employee. In 2016, I had a total salary of $23,500. Here are the contributions: - $18,000 was an employee contribution … read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
15,481 satisfied customers
I get a K1 form and a W2. Box 4 on my K1 is the same amount
I get a K1 form and a W2. Box 4 on my K1 is the same amount as my total earnings on my W2. When I enter the mount of K1 box 4 into turbo tax is acts like it is doubling my income and causing to me to … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
I am very confused as to how employee and matching
please. I am very confused as to how employee and matching contributions are reported for partners of an LLC (taxed as a partnerhsip). Do both types of contributions show up on their k-1 and their 104… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
15,481 satisfied customers
For lane can i have a sep,simple and 401k all at the same
for lane can i have a sep,simple and 401k all at the same time for the same company as long as i dont exceed aggregate limits. the company is my company and varies between-1-5 employees currently i am… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
15,481 satisfied customers
Is there any reason to contribute monthly to my 401K vs
Is there any reason to contribute monthly to my 401K vs waiting until the end of the year to fully invest in it? Other than not having to pay one lump sum.… read more
PDtax
PDtax
Owner
Master's Degree
9,530 satisfied customers
I am trying to find how to create a tax deferred account. I
I am trying to find how to create a tax deferred account. I am a member in a LLC with 6 members taxed as a partnership. I have been told that most taxed deffrered plans such as 401K, or SEP requires t… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
Partnership with a 401K plan. Partnership contributes
Partnership with a 401K plan. Partnership contributes $10,600 for each partner, they call it "employer match". Partner, my client, also contributes another $18,000 of his own money, total of $28,600. … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
Chrissy 401(k) JA: Thanks. Can you give me any more details
Where would you report the matching contribution on behalf of the partners on the 1065 and/or K1 … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
, I made 89,000 last year and I was putting 1000 a
I made 89,000 last year and I was putting 1000 a month into a 401K. When I got my check I got 330.00 and the rest of the 1000. went to taxes. I stopped the 401.K to try to figure out what the break point is. I don't know how much I should be putting in the 401K. I don't want it to go to taxes when I can keep it. … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I have a small business LLC, S election and I have adopted a
I have a small business LLC, S election and I have adopted a solo 401K plan which has a profit sharing/Match options as well as a Roth component. what is the minimum compensation i need to pay myself … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
, Can I set up a SEP plan and contribute 25% of profit
Hi, Can I set up a SEP plan and contribute 25% of profit from Schedule C. (I did not take any salary from the self employment though). I'm making estiomated taxc payments on the assumed profits, but n… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
hi, I have a situation where an LLC filing as a partnership has members (partners) who
hi, I have a situation where an LLC filing as a partnership has members (partners) who perform qualified services and receive W-2 wages as well as K-1 distributions. I wanted to ask if, for the purpos… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
I am one of two Members of a California LLC (taxed as a partnership)
I am one of two Members of a California LLC (taxed as a partnership) that opened a SIMPLE IRA account in 2013. The two Members made contributions last year, and we are now trying to figure out how to … read more
Anne
Anne
Master Tax Preparer
3,422 satisfied customers
Can a partnership with 3 owners and no employees have partnership
Can a partnership with 3 owners and no employees have partnership income distributed to their individual LLC's and then do an individual SEP plan. I have this situation where only one of the parner's … read more
Bill
Bill
Master's Degree
2,074 satisfied customers
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