1 result for tag: Solo 401(k)
SEP-IRA vs Solo 401(k): Which Should You Choose?
Parts of this article are published with permission from Bradford Tax Institute, © 2022 Daniel Morris, Morris + D’Angelo
One way to multiply your net worth is to let the government help.
Hereʼs How: With both the SEP IRA and the solo 401(k) retirement plans, your investment in your tax-favored retirement
Creates tax deductions for the money you invest in the plan,
Grows tax-deferred inside the plan, and
Suffers taxes only when you take the money from the plan.
Example: You invest $1,000 a month in your retirement. You are in the 40 percent tax bracket (combined federal and state), and you earn 10 percent on your investments. At the ...