403b and Solo 401k maximum retirement plan contributions combined | Reddit

[@nc4582]

I have a 403b account from my main W2 which have maxed out with elective 22500 contribution plus after tax for a total of 66k in 2023 but also have 1099 income, Can i still open a solo 401k and do non elective or employer contribution? Taking into consideration the 403b aggregate rule

[@PiroC-SPRC]

I do have employees so no SOLO 401K, If I do profit sharing to get advantage of the additional 25% contribuition do I have to offer it to all my employees?

[@TravisSickle]

For a SEP IRA yes...but you may want to checkout a SIMPLE IRA...or other options too...depends on how much you want to save.

[@rashidkhalil4631]

i contributed pre tax 20500 n 403 b from my w2 employment, matched 18000 by employer, finally also did voluntary after tax contribution 22500 to reach 61000 limit. also did traditional ira contribution and did roth conversion on it. i also have a side independent contractor job and earned 100k, what are my maximum contribution options in solo 401 k / defined benefits plan both pre tax and after tax.

[@TravisSickle]

There is another way to save more from what you are describing.

[@bzldzl]

How does the same questions relate to a S-Corp Solo 401 K ?

[@TravisSickle]

It's the same. The contribution calculations are different but the totals are the same. I have videos doing all the math on both.