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Is I have a Full-Time Job but Earn Compensation on The Side Can I Use a Solo 401k Plan?

Yes – as long as you are generating compensation from a business that you own that does not have any non-owner employees, your business can adopt a Solo 401k Plan.  A Solo 401k Plan can be adopted by a Sole Proprietorship, LLC, C Corporation, S Corporation, or Partnership.
In general,to be eligible to benefit from the Solo 401(k) plan, investor must meet just two eligibility requirements:
(i) The presence of self employment activity.
(ii) The absence of full-time employees.

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Posted in Solo 401(k)

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