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Solo K for Sole Proprietor -- Computation of Contributions Based on Earned Income
BenefitsLink Message BoardsLink to more items from this source
Sept. 29, 2021

"The IRS recently issued a TE/GE Issue Snapshot entitled 'Calculation of Plan Compensation for Sole Proprietorships.' My question is, assuming that the proprietor's net income from self-employment is equal to $100,000 for 2021 and s/he has established a solo 401(k) for 2021, how do you calculate the elective deferrals?"

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