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  • Creating an LLC to contribute to a 401(k)

    updated 1 year, 1 month ago 0 Member · 1 Post
  • Katie

    August 26, 2021 at 8:33 pm

    I am currently a PhD student and have been petsitting through Rover and have a few clients that work with me outside the app. I receive a stipend from the school for living expenses but they don’t offer any type of retirement benefits. I have already maxed out my Roth IRA through Vanguard and I was recently advised by a family member that I should try to get an EIN from the IRS so I can contribute to a 401(k) as an ‘employer’ and ‘employee’. I believe I would need a business license from my state(PA) plus would probably need to form an LLC based on general google searching. Is this even possible? Would there be any tax benefits to doing this? What should I expect cost wise and what might be the best place for me to go to get the process started? – by /hq/Plant_Prestigious – –

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