VolvoGirl is correct.As a Schedule C filer, self-employment tax stands on its own (based on net profit). You're certainly free to contribute to a Solo 401(k) bu...
You can make retirement contributions from net profit, yes.This is an older IRS Fact Sheet, but a useful one.https://www.irs.gov/pub/irs-news/fs-08-24.pdf
Hello!Are you asking if you can re-start depreciation for the S-Corporation? If so, the answer is no. You would claim "prior depreciation" so that the depreciat...
You do have to be careful, however. Sole proprietors (Schedule C filers) cannot pay themselves a salary. Your net profit is considered your salary. If you elect...
