Solo-K, Self-Employed 401K, Uni-K, and One-Participant 401K, among others. The IRS officially refers to Solo 401Ks as “One-Participant 401Ks”, but I have never heard anyone use that terminology
and that is aggregated between your traditional self-employed 401k and your Roth self-employed 401K. You may contribute the entire amount as a traditional tax-deductible contribution, or a Roth non-deductible contribution, or split the amount between both. For 2024 the total amount you can contri...
Jess has the triple crown of IRAs with her SEP IRA, often referred to as an IRA for self-employed people because they’re available to businesses of any size (which includes business of one, like Jess’s). SEP contribution limits are a bit more confusing, but theIRS helpfully explains as...
Open a Solo 401(k) account with the power of checkbook control to create the perfect retirement plan for self-employed entrepreneurs! Broad Financial's Checkbook Solo 401(k) lets you maximize your retirement contributions and place those funds in a variety of retirement assets. And that's just...