I am over 50 with my own s-corp and no employees. I pay myself a W2 salary of $50k/yr and my business has net income/profit of $100k/yr (reported on my K1).
Which retirement account(s) are best for me to maximize pre-tax contributions? SEP IRA + Traditional IRA? Individual/Solo 401(k)? My spouse is also over 50 and I heard about a Spousal IRA too.
Any help (especially with any math) GREATLY appreciated as I try to figure this out. Many thanks in advance.
