Enter your annual income, contribution rate, and employer contribution rate into the calculator to determine your total solo 401k contributions.
Solo 401k Contribution Calculation Formula
The following formula is used to calculate your total solo 401k contributions.
Total Contribution = Annual Income * (Contribution Rate + Employer Contribution) / 100
Variables:
- Total Contribution is the total amount contributed to the solo 401k ($)
- Annual Income is your yearly earnings before deductions ($)
- Contribution Rate is the percentage of your income you choose to contribute (%)
- Employer