If you're self-employed, either a solo 401(k) plan or Simplified Employee Pension (SEP) IRA can be an excellent choice. Both ...

or the SEP individual retirement account (SEP IRA or SEP). It’s important to understand the benefits and downsides to each, which can help you decide which plan to pursue. All else being equal ...

If you're self-employed or have a side hustle that pays you as an independent contractor, there are other options available to you, such as a SEP-IRA, SIMPLE IRA, or solo 401(k). I use a SEP-IRA ...

Contributions are made to an individual retirement account (IRA) set up for each plan participant. Self-employed individuals also can set up a SEP-IRA for themselves. A SEP does not incur the ...

There are limits as to how much you can contribute and for income thresholds for individual retirement accounts. For 2024 and 2025, you can contribute $7,000.

Tax season is quickly approaching, but there's still time to reduce your taxable income before you file your return.

If you are self-employed, you still have choices. For example, you might opt for a SEP IRA or a solo 401(k). Every year, the IRS sets contribution limits for IRA and 401(k) accounts, usually with ...