Multiple LLC's and Solo 401k
I am new to BP and this is my first post. I want to take this opportunity to thank all members for all the topics that I have read on these forums these past couple days. Wonderful stuffs and tremendously helpful.
Me and my wife have 4 LLC's and each has rental properties producing passive income. We also have rental properties outside of those LLC's too. I have a full-time job with a 401k. My wife have a part-time job with a Simple IRA.
We plan to open two Solo 401k, husband and wife, and fund it using distribution from the LLC's, is that ok? I also plan to roll over our old 401k accounts to these later too.
Or, does each LLC's have to sponsor separate Solo 401k for me and my wife? That means 2, husband and wife, accounts time 4 LLC's make 8 separate Solo 401k accounts. That kind of set up with small funding chunk everywhere, is not very conducive to making investment.
Thank you for any info you may offer.
Nick