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Financial Planning / Tax Strategies


Subject:  Re: Solo-K's Date:  12/19/2002  11:12 PM
Author:  foobarista Number:  62622 of 128043

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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