Should I increase my S Corp salary to increase my solo 401k company match?

Should I increase my S-Corp salary to increase my solo 401k company match? In this video I'm going through some math to compare increasing your salary and making additional contributions to your solo 401k.
You should also look at the tax credits and your overall taxable situation beyond just doing this simple math.
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[@rajkamalkaur5455]

Thanks for great video as always

[@petertu7359]

You have to pay yourself a fair market value salary. In other words, the question is what salary would you accept if you were not the owner of the company. You cannot simply set your salary to optimize taxes.

[@TravisSickle]

Your logic is correct but it's not an exact formula. Being aware of what those changes will or could be is really the point here.

[@petertu7359]

@@TravisSickle You are correct that there is probably a range of salaries that would be acceptable (or at least not challenged on an audit). However, a lot of CZcams “advice” glossed over over the FMV requirement and seem to imply that the business owner can choose to set his/her salary at any arbitrary value to maximize tax savings. Other CZcamsrs provide over simplistic guidelines like setting salary equal to 25% of revenues, which could be too high or too low. In my view, you should always start the analysis from the standpoint of whether you would accept the proposed salary from a company you did not own for performing the same duties and whether as the business owner you would pay that salary to an unrelated person to run your business.

[@playlistsandy]

Does the non-deductible portion come from W2 or the distribution?

[@TravisSickle]

Here you go czcams.com/video/hh9XfAF0uSM/video.html

[@tamarajackson8454]

Hello I have a question? Why do my eligibility still say pending for my child credit.. Everything is correct on my income tax from last year.. I got July and August payments didn't get September or October...

[@TravisSickle]

possibly updated some information.

[@geoandjr]

I have an s-corp .I pay myself 20k on a w2 how much can I contribute to my 401k as far as an employee and also employer.

[@nathangates2806]

It's 2022. The employee limit for 401K is $20500. So you can put it all in a 401k.

[@constantj2132]

Uh...the real question is where does he work so I can apply?

[@TravisSickle]

self-employed...LLC filing as an s-corp. 😂