If you filed a tax extension back in April, you likely still have time to make a SEP-IRA contribution for the 2025 tax year. The deadline for that contribution matches your extended return’s due date, October 15, 2026 — not the original April 15 deadline you might assume already passed. This is one of the … Read more
For 2026, a Solo 401(k) participant can generally defer up to $24,500 as an employee and may also make an employer contribution, subject to earned income and the plan’s terms. Total annual additions are generally capped at $72,000 before catch-up contributions. Those published limits are ceilings, not automatic contribution amounts. A self-employed person’s actual Solo 401(k) contribution depends on … Read more
A Solo 401(k) and a SEP IRA can both help self-employed workers save for retirement, but they work very differently. A Solo 401(k) often allows a larger contribution at lower and moderate income because the owner can contribute in two roles — as employee and employer — while a SEP is built around employer contributions … Read more