#self-employment-income

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#retirement-planning #solo-401k #tax-advantaged-accounts #irs-415c-limits #sep-ira #tax-deduction
Healthcare
from24/7 Wall St.
1 day ago

Why Side-Hustle Consultants Are Opening Solo 401(k)s and Sheltering Another $50,000 From Taxes

A Solo 401(k) can use a separate 415(c) annual addition limit from an unrelated employer, enabling additional pre-tax retirement contributions beyond the employee deferral cap.
Retirement
fromSubstack
2 months ago

Ode to the SEP IRA

SEP IRA is a simple, high-benefit retirement account for freelancers and business owners that lowers taxable income and requires minimal effort.
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