Quote:
Originally Posted by Noporscheform
If you are plan on saving any of the side business income you might consider looking into a solo401k which may allow you to shelter 100% of the consulting income. I have been reading up on them recently and am about to meet with a tax guy in the next week or so to confirm the rules
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Thanks, I should talk to my tax guy about this. I was going to consider it as ordinary income, but would love to shelter it. I don't know how much I'll make out of this gig, but certainly enough to get taxed at a higher rate when added to my ordinary income.