Can I Make a Spousal Solo for One K Contribution?

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With a spousal i r a, you can make a full i r a contribution no matter what your spouse does. You don't have to get a real four one k until you have a non spouse employee. In this sort of situation where you're consulting and you're making ten thousand bucks, you really are not going to be making any sort of spousal solo for one k contribution. But if you want to figure out a way to have your spouse actually be working in the business, and you pay her a reasonable salary for that, then she can make pretty significant contributions.

In this week's episode we are taking listener questions regarding retirement accounts. We talk about 403(a), 403(b), and 457(b) accounts and what the maximum contributions for those are. We cover defined benefit plans vs a mega backdoor roth and when to pick which or both options. We answer questions about taxable accounts and catch-up contributions as well as differences in employer contributions and solo 401(k) accounts and when you can make contributions for a spouse. If you have questions about retirement accounts you will find some answers here.

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