We both have separate roth iras through vanguard that we contribute the max yearly.
I recently opened a solo 401k and am having trouble wrapping my head around that one. For 2021 I put in $19500 as an employee, and I am waiting to hear from my tax guy on how much I can contribute as an employer. From my understanding it is 25% of my net income that is displayed on a w2 yes?
I am curious if my husband could also open a solo 401k and fund it the same way, or will income determine that since we file jointly? Would he be able to open one and put in $19500 in his as well? I cant find any good info on that online. Thank you!
My husband helps with the business and has no other income btw.
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