2024 Solo 401k Contribution Deadlines: How to MAXIMIZE your Tax Saving!

[@MatSorensen]

Ask Mat: matsorensen.com/ask-mat/

[@nickirealtime]

Thanks for keeping us educated Mat!!😊👍

[@MatSorensen]

My pleasure.

[@ssik-f1c]

This is super helpful! Clarifying question- If I have a single member LLC that is being taxed as an S Corp, what is the deadline for setting up the Solo 401k?

[@bkfinancialplan]

Love the channel Mat. FYI all Catchup for tax year 2025 increases to $11,500 for 60-63 aka geezer bonus

[@charliebrenneman7427]

If my solo 401k employer side doesn’t allow Roth contributions could I do $23k in solo, then 25% in a SEP IRA and finally do a backdoor conversion of that to a Roth IRA even if over $7k?

[@MatSorensen]

I’d just do traditional employer Roth contributions in the 401k then and then convert those using a Roth conversion. That’s what we used to do before Roth employer 401k contributions was allowed.

[@charliebrenneman7427]

@ thx, at this point I don’t think Schwab allows that but I’ll have to check the fine print again, or go to directed ira!