MGOAdmin Posted February 8, 2022 Posted February 8, 2022 I have a client that is US citizens and lives in the US. He work in the Cayman Island a few weeks a year and picks up the income on his Sch. C of his 1040. Can this income be used towards retirement contributions. I believe it is subject to self employment taxes.
Luke Bailey Posted February 9, 2022 Posted February 9, 2022 It can be used, but determining whether he can establish his own plan for it would require more facts regarding his other business activities, MGOAdmin. Luke Bailey Senior Counsel Clark Hill PLC 214-651-4572 (O) | LBailey@clarkhill.com 2600 Dallas Parkway Suite 600 Frisco, TX 75034
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