QUESTION:
Is there any other way to contribute more toward solo 401k other than employee and employer contribution like gift
to trust etc? Just thinking if I could be innovative within the boundary of
guidelines.
Thanks,
Dr. P. in AR
ANSWER: While all 401k plans fall under the trust umbrella
[501(c)], the solo 401k rules do not
allow for gift contributions or gift distributions. The only types of
contributions that may be made to a solo 401k are rollover/transfers from other
retirement plans and annual contributions from self-employment income (employee
and employer).
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