I am the employer and employee - solo 401K tax deductions #taxstrategy

730 viewsalmost 2 years ago0m 34sScore: 80

Lydia Patel

Pricing & Profitability
intermediate
Tax Strategy
Bookkeeping
Profitability
Expenses

Summary

The video explains a key benefit of a solo 401k for entrepreneurs in the short-term rental space. As both the employer and employee in a solo 401k, you can make employer contributions to yourself, up to 25% of your net profits, creating a powerful tax write-off.