Insights
-
Making Side Income? Maximize Contributions with the Solo 401(K)
The Solo 401(K) is ideal for people who have self-employment income and would like to contribute more than 20% of their income. Unlike the SEP IRA, the Solo 401(k) allows “employee-side” contributions ($19,500) in addition to “employer-side contributions,” which are limited to 20% of net income. The overall limit is the same ($58,000), but if net…
-
Client Update 2020
Dear clients, I hope this update finds you and your family healthy and eager for the coming new year. Below is a list of notable planning items and reminders for the 2020 tax year.