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- Aug 29, 2006
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It's harder as a W2 without the option of a solo 401k. Just can't get to 100k pretax, no matter what.
-30k including match for 401k
-15k or so that employer puts in pension plan
-4k in HSA (can't do family as they are on another plan due to network)
Especially with the new tax laws, 1099 is the way to go.
K1/1099 is the way to go. If your group doesn't keep up, you're failing. This is exactly the reason why I'm leaving my under-paid employed W2 position.
$19,500 employee contributions to 401(k)
$37,500 employer contributions to 401(k)
$3,500 HSA
=$60,500
You can easily add $31,000+ from a personal defined benefit plan to get over $100,000, tax-deferred.
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