I've already posted this on the self-employed fools board, but not received a response yet :), so I thought I'd try you guys: I'm about to start my own corporation(I'll be the only employee), I understand that I can start a 401(k) and it can take 30k per year. Also, the personal contribution is a maximum of 10k. Right now, My FICA taxes are calculated using my total salary including the 10k, can my corporation fund the full 30k without me contributing at all - and are contributions by a corporation into a 401k done with before or after corporate income tax dollars?Also, the same before/after tax question for company pension plans. And who do I talk to - any ideas for creating one of them.My company will have between 250 and 300k revenue per year(if things go as expected) and I'll be the only person working for it - I'd like to avoid as much taxation as possible. For reference - I'm only 26 - gotta love software!
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra