Can my solo 401k contribution exceed my self employment income? For example, if my net self-employment income is $15,000. Can i contribute $18500?
No, you can't. In fact, the total of one-half your self-employment tax, your deduction for self-employed health insurance, and your solo 401k contribution can't exceed $15,000.
Can my solo 401k contribution exceed my self employment income? For example, if my net self-employment income is $15,000. Can i contribute $18500?
No, you can't. In fact, the total of one-half your self-employment tax, your deduction for self-employed health insurance, and your solo 401k contribution can't exceed $15,000.
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