Search Help


Enter one of more keywords to search. Use quotes for “exact phrase.” Note that '*' and '?' wildcards are supported.

When your search results appear, you can refine your search further: Sort for only results in which all search terms appear AND/OR sort by chronological order.

Article Date:
January 2008


Word Count:
968

 

 

Solo 401(k) with Your Employee-Spouse


In this article, we will explain how a proprietor (Schedule C taxpayer) can hire his or her spouse to work in the business and how to cover him or her with a solo 401(k).

 

To start with the big picture, assume that you own the business and that you hire your spouse. You pay your spouse $15,500 in cash wages and also cover your spouse with a family Section 105 medical reimbursement plan that’s worth about $13,500 a year. Thus, the total compensation to your spouse is $29,000. Your spouse works 800 hours a year, so this ... Log in to view full article.

Log in to view full article
Already a subscriber?
 
Email Address

 
Password

Log In Send me my password

You'll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter

Not yet a subscriber?
 
with a money-back guarantee



 

SS