I'm a single member LLC. No need for payroll functionality so I have the basic version. How do I record 401K balances and contributions?

robin-yatesadvis · ‎August 19, 2020

Rustler · ‎August 20, 2020

As I understand it, a 401K is restricted to being run by an employer for the benefit of an employee.

As a sole proprietor you do not qualify

robin-yatesadvis · ‎August 20, 2020

Let's assume I do qualify (it's a particular type of instrument), how would I record it? Thank you.

Rustler · ‎August 20, 2020

A 401K is not an authorized savings instrument for a sole proprietor. If you have a 401K from previous employment, then that is not part of the sole proprietor business, it is personal finance.

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I'm a single member LLC. No need for payroll functionality so I have the basic version. How do I record 401K balances and contributions?

I'm a single member LLC. No need for payroll functionality so I have the basic version. How do I record 401K balances and contributions?

I'm a single member LLC. No need for payroll functionality so I have the basic version. How do I record 401K balances and contributions?

I'm a single member LLC. No need for payroll functionality so I have the basic version. How do I record 401K balances and contributions?

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