Solo 401(k)
What is a Solo 401 (k)?
A Solo(k) is a retirement plan created specifically for self-employed individuals who seek to create retirement savings on a tax-advantaged basis while enjoying full flexibility in funding and a more broad range of investment options. It is a retirement plan created specifically for self-employed individuals.
A Solo 401(k) may be right for me if...
- I am an owner of an unincorporated business that employs only me or me and my spouse
- I am a partner in a partnership that employs only partners or partners and their spouses
- I am a sole owner of a corporation (or an LLC taxed as a corporation) that employs only me or me and my spouse
- One of the statements above is true and my business has part-time employees, but none of them have ever worked 1,000 hours in a 12-month period starting with their date of employment