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401k Contributions as a single owner of a S-Corp - How to Divide?

  
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Subject Author Date
401k Contributions as a single owner of a S-Corp - How to Divide? Jeb 12-20-2006
Posted by Jeb on December 20, 2006, 1:07 am
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 My wife and I own our own S-Corp and have a single 401k
setup through theonline 401k. What I'm struggling with is
how much I should have our corporation contribute to the
401k as opposed to use contributing?

The ultimate goal is to pay the least in taxes (of course).

Our income will likely be around $70,000 this year.

I have looked for this information everywhere, so any advice
on where to find it would be VERY helpful!

Thanks,
Jeb

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Posted by kastnna on December 22, 2006, 1:14 am
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 1. Are you and your wife the only employees of company?

2. Do you need part of the $70K as income? What is current
AGI?

3. Do the two of you have other jobs? If so, do they have
retirement plans? Do you participate?

4. Are you participating in other retirement vehicles?

5. Current ages and planned retirement ages?

6. Do you file jointly or seperately?

<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>

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