The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Solo-K's||Date: 12/19/2002 11:12 PM|
|Author: foobarista||Number: 62622 of 125866|
I could be wrong, but my understanding of solo K's(like that moniker!) is that the participant or their spouse must be the only employee of the company.
That is my question - since she isn't an employee in terms of getting
a W2, is she eligable to open a solo-K? The IRS certainly thinks she's
self-employed - she will have to pay self-employment tax. Or, more
generally, is a commission-only salesperson considered an employee?
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