Solo 401k & PS Comparison
Original 1099 Income
W2
K-1 from S Corp
Scenario 1
No planning
Scenario 2
Max IRA Contribution
Age ＜ 50
Age ＜ 50
Scenario 3
Max SEP Contribution
Scenario 4
Incorporate
Scenario 5
Incorporate + Max Solo401K
Age ＜ 50
Age ＜ 50
Scenario 6
Incorporate + Combo Defined Benefit Plan
Age ≧ 50
Age ≧ 50
Total Tax
Tax Savings
$0
Perc. Save
0%
Perc. Save
Perc. Save
Perc. Save
Perc. Save
Perc. Save
Tax items
Payroll/ SE Tax
Income Tax
Add Medicare Tax
NIIT
$0
$0
$0
$0
$0
$0
Other Tax(include SDI)
$0
$0
$0
Tax
NY City Tax
Corp Fee
$0
$0
$0
Total Tax
Contribution
Contribution
$0
$0
Current Disposable Income
Incorporated vs. Sch C
Contribute Solo 401(k) + PS (vs. Incorporated )
Contribute Solo 401(k) + Defined Benefit (vs. Incorporated )
Every $10,000 Solo k/Profit sharing contribution, you can save
Every $10,000 Solo k/Defined benefit contribution, you can save