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Reply to "Solo 401K and LLC question"
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[quote=Anonymous]You can have an LLC (which is a state registration) and an S-Corporation (which is recognized by IRS for tax purposes). Note, IRS only recognizes solo proprietorships, S-corp, and C-corps. In your case, send in the form to IRS to set up as an S-Corp. Your S-corp would set up the 401k (Fidelity and other financial institutions can help you). You and your spouse can contribute up to the maximum amount allowed from your "salary" and the S-Corp can contribute up to 25% of you and your spouse's salary as a benefit. However, all those employed by the S-Corp must get the same percentage of 401k contributions from the company. [/quote]
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