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My wife and I have a S-Corp. and in the past we both had W2 from that s-corp. This year we don't have nay income, but my wife has 1099 income, and no other income. We intend to close this s-corp. We have a keogh plan for s-corp and contributed to it in prior years (no income in 2020)
Can I my wife open a new solo401k account and contribute max from her 1099 income?
Thanks
S
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Can I my wife open a new solo401k account and contribute max from her 1099 income? Yes she can if she puts the income on a Sch C as a sole proprietor.... also consider an IRA or a SEP IRA. Talk to a local professional for retirement account set up assistance.
Can I my wife open a new solo401k account and contribute max from her 1099 income? Yes she can if she puts the income on a Sch C as a sole proprietor.... also consider an IRA or a SEP IRA. Talk to a local professional for retirement account set up assistance.
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