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Business & farm
@Anonymous wrote:the best way to maximize tax advantaged retirement savings.
If you want to "maximize" your retirement savings, a 401k would allow you to contribute more.
But there is no all-in-one answer. A SEP is easier and usually has lower fees than a 401k.
If you are interested in contributing a lot of money towards retirement, going to a tax professional and/or retirement specialist is the best idea for advice, so they can see the ENTIRE situation, and ask you about your plans, goals, etc. The fact that your business is taxed as a S-corporation means you probably should be going to a tax professional anyways for that; corporate taxes are really not a do-it-yourself type of thing.
‎December 23, 2020
10:32 AM