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Can I use the same individual 401k to receive contributions of income from (1) unincorporated sole proprietor income and also (2) single-member LLC?
I provide consulting services as an unincorporated sole proprietor. I have a longstanding individual 401k for this business endeavor. The 401k is a prototype "super simplified standardized individual 401k profit sharing plan" with a brokerage.
I have another service business, in a different field, which is organized as a single-member LLC. There are not retirement plans specifically associated with this business.
Can I contribute income from business
ā€ˇFebruary 7, 2021
9:56 AM