Michele_H
Expert Alumni

Self employed

Hi @tlcampbell0427  you should choose the best one that suits your tax situation.  There are benefits to both types of plans.  I am attaching several links that will help you to make this determination.  It depends on the amount of income and the amount you would like to contribute.  

 

https://www.investopedia.com/articles/financial-advisors/012716/solo-401k-vs-sep-which-best-biz-owne...

https://www.guideline.com/blog/sep-ira-vs-401k/

 

 

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