ThomasM125
Expert Alumni

Deductions & credits

The solo 401-K allows more to be contributed. A Sep-IRA is limited to 25% of your compensation or self-employment income. For a solo 401-K, you can contribute up to 100% of your compensation up to $20,500 in 2022 plus an additonal 25% of wages or modified self-employment income. You can read more here:  Solo retirement plans

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