Solo 401(k) Vs SEP IRA: Which One Is the Best Option?
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Thanks for the explanation, even though I already setup the Solo 401k last year this was great. For me the Solo 401k has been good to me for contracting I work do on top of my day job. I am not a super high income earner so I contribute like 3k to my regular 401k for my W-2 job to get the 4% match, then I get about 10-15k in 1099 income each year for contracting work and I contribute about 70% of that to the Solo 401k to account for my minor deductions and the Self-Employment Tax portion so I don't go over. What I really like about the Solo 401k I have through Fidelity is it functionality is very similar to a IRA where you have much more options when it comes to investing.
Yall are fucking awesome. How did you read my mind like that lol. This vid showed up on my feed right after I asked this question on your longer one. <3
Thanks for answering my question! Incredibly helpful!
FTE DANIEL, HELP!!! We need a deliverable or at least a visual explanation. Wonderful content but difficult to intellectually and verbally process.
Did the Solo 401K back in 2019. Huge tax savings. I would highly recommend that business owners discuss tax strategy way ahead of tax season as you do have to set up the account in the prior year.
If you make a lot of money as self employed, SEP, if not roth solo 401k
I would love to see a video that breaks down all the names of these accounts, like what's the difference between traditional and Roth, or Roth ira vs SEP IRA. Who are these accounts for what do they mean?
Taxes real son lol
I need more explanation on this. Is there a resource?
Brian is at it again! I am inspired by his channel. Brian inspires me to continue my own YouTube channel on Finance and Investing.
Daddy's inheritance fund suits me