Solo 401k Plan and full time employee other than the plan owner and their spouse

For my Solo 401K plan, if I have more than one employee besides me and my wife, do I have offer them a plan as well?

Answer:

You and your wife are considered owner-employees of the plan.  If you have any other full-time employees (working over 1,000 hours per year), they cannot participate in this plan. You cannot have a Solo 401k if you have full-time employees working for you. You can have independent contractors working for you. Please consult your tax advisor, CPA or  legal counsel to determine how you would need to structure the roles you need to fill where you’re hiring people to be independent contractors.