1099 side job for tax benefits

[okayplayer]

Do any of you guys with W2 partnership positions take on 1099 locums work for tax reasons?

What I would like to do is take a little more vacation with my regular group and use those extra weeks to do 1099 work that allows me to max out a solo 401k in addition to my 54k corporate profit sharing plan (and ideally pick up some extra deductions). I'm not looking to make more or work harder than I currently do. What I am looking to do is to improve my tax efficiency (i.e. decrease my effective tax rate).

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[deleted171991]

Based on my understanding, you cannot contribute to the solo 401k more than 18,000 (24,000 if above 50) plus 20% of your 1099 income. Any income above 18,000/24,000 will not improve your current tax efficiency.

 

[okayplayer]

Multiple 401(k) Rules