S-Corp Tax Savings

You probably hear about S-Corp tax savings all the time, as a solopreneur.  Has anyone ever broken it down for you?  Look no further.  Here is how S-Corp owners pay less tax than sole proprietors. It most comes down to self-employment taxes, although there are some opportunities for tax savings with Solo 401k plans.  In […]

S-Corp Solo 401k vs. Sole Prop Solo 401k

You have probably heard that having an S-Corp or an LLC taxed as an S-Corp is superior to a sole proprietorship.  Usually, the supporting example is related to self-employment tax and limited liability.  There is also one other element that is rarely discussed: retirement plan efficiency. An S-Corp Solo 401k is much more efficient than […]

Extra “Credits” for a Solo 401k

Your contributions to your Solo 401k don’t just reduce your taxable income, they are make you eligible for extra tax credits and deductions.  Adjusted Gross Income (“AGI”) is often the input in determining whether you are eligible for tax credits and deductions.  Accordingly, the lower your AGI the more likely it is you will be […]

Spousal Solo 401k

If you are a solopreneur who fell in love with another solopreneur then congrats!  You are well on your way to a spousal Solo 401k.  You can both set up your own Solo 401k and build tax-advantaged wealth faster than your friends who are employees.  But what if you are a solopreneur who fell in […]