Solo 401k Plans Can Deduct Straight From Your Paycheck

Solo 401k Plans can be set up to deduct from your paycheck or by you paying a certain amount into the plan each month. It is much easier to have it deducted from your paycheck because it is not missed. If the money is deducted from your paycheck, it will come out prior to taxes. Sometimes companies will set up this 401k and will have a matching program. This is one of the company’s benefits. They will match whatever you put into the plan and sometimes there is even a profit sharing program that goes along with your deduction payment. The company’s policies vary so be sure and check with your company before signing up for the deductions.

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