I'm relatively new to financial planning/investing and really wish I would have known about this site when I was an attending before going back to fellowship...I'm just soaking it all in right now.
Anyways, I am going over my taxes now and realized that my (very small) side job of reviewing insurance claims in paid on a 1099.
Should I set up an individual 401k for this? I anticipate only getting 10-20k/year from this. It's my understanding that I can now deduct anything that would have to do with work for this, right? And then to figure out how much I can put in would depend on how much my employer puts in my 401k through them?
For those who have an individual 401k, do you have it through vanguard?
Thank you! This is an amazing resource!
Anyways, I am going over my taxes now and realized that my (very small) side job of reviewing insurance claims in paid on a 1099.
Should I set up an individual 401k for this? I anticipate only getting 10-20k/year from this. It's my understanding that I can now deduct anything that would have to do with work for this, right? And then to figure out how much I can put in would depend on how much my employer puts in my 401k through them?
For those who have an individual 401k, do you have it through vanguard?
Thank you! This is an amazing resource!
Comment