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Article Date:
December 2006


Word Count:
134

 

 

Solo 401(k)


Just a few questions on the solo 401(k) article that appeared in the October 2006 Tax Reduction Letter (Vol. 15, No. 10):

 

·

Is there an age limit (for a working person)?

·

Do you have to keep the 401(k) for a minimum number of years?

·

Can an independent contractor have a solo 401(k)?

(C.L., Wilmington, DE)

 

Here are the answers to your solo 401(k) questions:

 

·

The law contains no age limit on putting money into the solo 401(k).

·

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