In this episode,  we delve into the significance of hiring your first employee and its impact on your retirement plan. We discuss the benefits and features of a Solo 401K. Additionally, we address the question of when it may become necessary to shut down your Solo 401K. Furthermore, we examine the tax savings associated with a 401K plan for employees, highlighting the potential tax deductions and deferrals that can be obtained, providing valuable insights for entrepreneurs navigating retirement planning while expanding their workforce.

Episode Highlights:

• What is a Solo 401K?

• When do you need to shut down your Solo 401K?

• What tax savings can you get for a 401K plan for employees?

Links:

Profit & Loss Template

Save Taxes: Free Consultation 

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