Solopreneur 401k FAQ - Where do I report my Roth Solo 401k employee contributions on my W-2? Open Account:
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The solo 401k plan, commonly referred to as self-directed Solo 41k is the retirement plan of choice for self-employed individuals or owner-only businesses including for the features highlighted below:
-The highest contribution limits for any defined contribution plan including up to $61,000 (or even $67,500 if you are 50 or older) for 2022, or $66,000 (or even $73,500 if you are 50 or older) for 2023.
-The ability to make pre-tax, Roth, and even Mega Backdoor Roth contributions.
-401k participant loans of up to $50,000
-Invest with checkbook control in real estate, cryptocurrencies, notes, private placements, and other types of alternative investments.
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Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)