One-Participant 401(k) experiences

[VirginiaBob]

Anyone use one? 

May be a good vehicle to shield some side hustle income from taxes. 

Thinking of it for my case where I have a non-working spouse that "owns" one of our tiny businesses.  Only made $3,000 a year in 2014, but hopefully it grows to $18,000 a year for 2015.

Here is a link to thier rules and details:

http://www.irs.gov/Retirement-Plans/One-Participant-401(k)-Plans

[JGB]

My wife and I have Vanguard Individual 401k plans setup for our side business. I'm a fan. They are good for shielding some income from taxes, but you still have to pay the ~15% self-employment taxes.

Any specific questions about them?