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Get your taxes done using TurboTax
No body advertising the solo 401k mentioned effective tax rates. After standard deductions, etc my effective tax rate was only 7.5% soa 10k contribution to the 401k caused a tax refund of less than 1k. So the solo 401k is great for dumping loads of cash into retirement but terrible for tax deductions. It really only works well for an LLC taxed as scorp I think,
‎April 9, 2025
1:43 PM