In this video, I’m talking about the Solo Roth 401k worksheet found in IRS publication 560. The calculation is for the maximum amount of your contributions you can make into your Solo Roth 401k using self-employment compensation.
The Solo Roth 401k calculation is the maximum pre-tax deduction with maximizing the direct contributions to your Solo Roth 401k. There are multiple ways to calculate contributions to your Solo 401k including both the Roth and traditional sides of your retirement plan.
Here is the link to IRS Publication 560 on our website.
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Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE
Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetime and we’re here to help guide you.
TRAVIS T SICKLE, CFP®, EA®, AAMS®, CRPC®, RICP®
CERTIFIED FINANCIAL PLANNER™
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1646 W Snow Ave.
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Tampa, FL 33606
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Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE
Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetime and we’re here to help guide you.
TRAVIS T SICKLE, CFP®, EA®, AAMS®, CRPC®, RICP®
CERTIFIED FINANCIAL PLANNER™
Company Website:
twitter: @travissickle
Instagram:
facebook:
LinkedIn:
Sickle Hunter Financial Advisors
1646 W Snow Avenue
Suite 144
Tampa, FL 33606
Check out Google Business Profile
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Just what I needed to finish my wife's solo 401k and subaccount Roth 401k .. thank you
Thank you
I work a 9 to 5 for a company and recieve w2 income and max out my traditional 401k contribution. I have a side hustle and I get 1099 income. I want to open a solo roth 401k and contribute only to that and max it out up to 25% of my net income of no more than $15k. Can I do it?