Bonus to Simple IRA

Tax Strategies
1

Hello,

I am an owner of an S-Corp and I am not looking to increase my taxable income on my W-2 due to annual earning restrictions. Am I able to take a bonus from the S-Corp and place it in my 401k (Simple IRA) without increasing the W-2 wages from the S-Corp?

I appreciate any guidance from you.

Thanks,

DB2027

2

We covered this on the Podcast today. Wednesday, November 20th. It will be live in the next 3-4 days. Thank you so. much for listening. Mark and Mat