Home Page link  

Individual 401k for W-2 contractor

 

Taxes General Forum - Tax professionals meeting place and answers to queries. (Moderated)

 Post an article  get this group's latest topics as an RSS feed add this group's latest topics to your My MSN content add this group's latest topics to your My Yahoo content  add this group's latest topics to your Google content  YahooMyWeb Yahoo!  Google Google  Windows Live Favorites Windows Live  del.icio.us del.icio.us  digg digg  Add to Netscape Netscape
Subject Author Date
Individual 401k for W-2 contractor John Bliss 12-15-2007
Posted by John Bliss on December 15, 2007, 11:11 pm
Please log in for more thread options
I work as a contract programmer for several clients, and for some, I
work from home, and my hours at each client vary quite a bit from week
to week. I can easily pass the IRS test of "self employment". However,
for most of my clients, I get paid W-2 wages, not directly from the
client, but from pass-through, pay roll companies. For example, this
year, I will have 4 W2s and 2 1099s, all from different companies. I
am not eligible for contributing to 401k plans at any of the pass-
through payroll companies I get paid through, because the length of
the contract is usually less than 6 months, which is the minimum
eligibility period for most companies for setting up a 401k.

MY question is: Am I eligible to set up an individual 401k, even
though some of my income is W2 income and technically I am considered
an employee of the payroll company?


Similar ThreadsPosted
Solo 401K (aka Individual 401K) same as Super-Simplified 401K? December 3, 2007, 12:49 am
401K for W-2 job, plus "individual" 401K for 1099 income ? March 17, 2008, 8:28 pm
Individual 401(k) February 13, 2007, 1:49 am
Individual healthinsurance December 31, 2006, 11:50 pm
individual 401(k) in partnership February 6, 2007, 9:58 pm
Fed. Gov. TSP & Individual 401 Contribution Limits January 3, 2008, 3:23 pm
TDF 90-22.1Joint and Individual accounts June 4, 2006, 1:13 am
Becoming a contractor. What do I need to know? February 19, 2008, 9:42 pm
Is an individual liable to pay corporate taxes? December 13, 2006, 10:38 pm
Value of Individual Purchased Items For Large Lot Purchase September 27, 2008, 1:22 am

Contact Us | Privacy Policy
This site is not affiliated with Intuit - makers of Quickbooks and Quicken software
This site is not affiliated with Sage Software - makers of Peachtree accounting software
XML SitemapXML Sitemap