2

From what I hear none of the 401k stuff has been modified in the new tax bill

This means SOLO 401ks would still have like 20+% profit contribution maxes, up to the $53k or so upper limit from entity contributions (distinct from employee salary contribution subject to the lower limit)

That coupled with the new 20% pass thru deduction really makes this quite a windfall for people, especially up to 200k-300k income ranges, and not a negligible deduction at higher income ranges

Can anyone confirm? My napkin calculations suggests this can get the effective tax rate waaaay below 20% without any expense deductions or getting crafty (before FICA taxes)

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Browse other questions tagged or ask your own question.