Hello,
I love the show. Thank you for the helpful information.
My wife owns a business and I own a business. As of right now, we currently have one self-directed 401k with checkbook control tied to my business. My business primarily owns rental property and it’s main source is rental income. My wife’s business buys and sells properties. Ultimately, we’re wondering if she can open her own self-directed 401k with checkbook control that is tied to her business and contribute the max amount of employee and employer contributions. If not, can we add her business under my self-directed 401k to take advantage of the income she receives from her business so we can max out employer contributions? If we can’t add her business under my company’s self-direct 401k, can she still open a self-directed 401k and contribute to it (while keeping in mind that her total contributions as an owner of it can’t be more than ours combined plus the combined employer contribution must not exceed her business and mine’s contribution)? What are our options? Thanks!!!