Client of the Week

Screenwriter Creates a Blockbuster Retirement Plan

A 47-year-old screenwriter in West Hollywood who reported $200,000 in net Schedule C income can contribute $114,400 into a Defined Benefit plan. The screenwriter can further maximize his contribution to $138,098 if he adds the Solo 401(k). Over a span of eight years, he will have maxed out his Defined Benefit plan with a total lifetime accumulation of $850,000.

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