Maximum income/contribution: $285,296 tax 39.85% = $113,690
Participant loans: $100,000 tax 0%
Maximum distribution: $185,296 tax 24.55%= $45,490
Your net savings in tax would be $68,200 and you will have full access to your income and your contribution. After you have had the chance to review this information, feel free to call me to discuss how to proceed.