Contributions to your Solo 401(k) are calculated from your self-employment wage.
The maximum contribution limit for the Solo 401(k) is $61,000 or if you're over age 50, $64,000 (2022). This amount is comprised of 2 types of contributions: An Employer Contribution and an Employee Contribution. These contributions are limited by your self-employment income. The chart below offers a break down of the maximum contributions for each type of contribution but is not meant to replace the advice of a CPA or a Tax Attorney. You should seek legal advice if you are unsure what your contribution amounts should be.
