The most prestigious law school admissions discussion board in the world.
|
 |
 
|
Discuss maximum Cash Balance Plans taxes
| ,.,,,. | 09/21/24 |
Poast new message in this thread
Date: September 21st, 2024 3:54 PM Author: ,.,,,. How much can it really save on taxes? Let's say you got a w2 job where you are allowed to put cash balance , say 100k. Once I switch jobs or once they kill that plan I roll it over into my solo401k.
And now let's say i also got a 1099 job where I gross 400k. Could I also do my own cash balance and put down another 100k? That would entail creating an scorp and paying $$ to some company to actually make that. But how much would it actually save if all I get is deferral into 401k 5 years later? I will eventually need to pay tax to convert it into roth. Seems too much of a hassle if I don't save much.. seems only accountants and lawyers win on such transcations |