Yes, you can fund an IRA up to the deadline, but give your financial institution a few days to make sure it is done. You must also let them know that the funds are for 2021 and not 2022. Lastly, you can only fund it up to the amount you profited (after expenses) on your business or $6,000 whichever is less. ($7,000 if you are over 50 years old.) You can choose between a traditional IRA, which will lower your taxable income for 2021 or a ROTH IRA, which will tax you now, but allow the money to grow tax free. Check with your financial institution for particular rules on withdrawing from the IRA and ROTH in the future. If you wish to put more toward retirement in 2022 from your self employed income you may wish to consider opening up a SEP or SIMPLE IRA.
