401k and solo-401k 2019 limits

[Michael Slockers]

Hello all. For all the following, please note I am under 50 years old!

If I am understanding correctly, the current maximum contribution for the 2019 tax year for your (single member LLC) Solo 401K is $19,000 as Employee and $37,000 as Employer total contribution on this account would be $56,000.

For someone who has a W-2 job offering a 401k plan with a company match:

1. 1. How am I to calculate the limits on the solo 401k contributions? Assume I will first get a full match on company 401k.
2. 2. For common terminology, is the $37,000 limit on Employer contribution also considered "profit sharing"?
3. 3. I read a couple articles online, including a good answer from @Dmitriy Fomichenko, but still, I'm not clear on limits.
4. 4. Is there an advantage towards putting into the solo-401k vs putting into an IRA? Both are self-directed. I'm aware of the IRA limits and they seem real simple to understand!

Thanks,

Michael