January 31, 2023
One of the biggest benefits you will enjoy if you are self-employed is that there are more (and some would argue better) retirement options and plans available to you than are available to most taxpayers. You still have the ability to use the ROTH IRA and Traditional IRA. But being self-employed gives you three additional retirement savings options: SEP-IRA, SIMPLE IRA, and Solo-K. With all these choices, how do you know which is the best retirement plan for the business owner like you? We will explore the pros and cons.