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0 pointsboulos9y ago0 comments

Yes. The Small Business Plan (not the single one) is harder / more annoying. It's also improved a lot in the last five years, but the fact is that Vanguard / Fidelity still don't really compete for this business (yet) and are happy to have these folks figure out the recordation, ERISA, etc. issues.

Do you have any revenue / income yet? Did you raise funding and thus are paying yourself a salary? I'm genuinely curious about single-person 401k plans in the absence of real revenue...

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theli0nheart9y ago

> Do you have any revenue / income yet? Did you raise funding and thus are paying yourself a salary? I'm genuinely curious about single-person 401k plans in the absence of real revenue...

I've been running the business full-time since 2010. I'm paying myself a salary and haven't taken any funding. I don't have plans to scale massively or hire employees.

As far as I recall, I don't think Vanguard cared one way or the other about how much revenue the company was making. It's been a while since I set it up though. :)

boulosOP9y ago

I just mean you need revenue to pay yourself such that a tax-deductible contribution to a 401k is actually tax deductible. (Being a solo person with revenue is absolutely fine, I wrongly assumed you had done this recently and thus might be pre-revenue).

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