I have an LLC that is an S Corp for tax purposes. I employ my husband in the business. We both are earning a reasonable salary through the LLC and I have set up a solo 401k that the LLC is contributing into for both of us. Can you help me better understand the following: 1) I believe I can get a distribution of net earnings made to me by the end of the year? What about my spouse? 2) It is also my understanding that I can contribute to the 401K in excess of the individual withholding limits for both of us? Can you help provide more insight here?
