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Which is better for me? The SEP IRA V.S. The Solo 401(k)?


If you're self-employed, you have probably heard of either the SEP IRA or the Solo 401k... But which is better? Haley Gant, CISP, discusses the benefits and pitfalls of both accounts and what might interest you to pick one retirement account over the other. DISCLAIMER: Quest Trust Company does not render tax, legal, accounting, investment, or other professional advice. If tax, legal, accounting, investment, or other similar expert assistance is required, the services of a competent professional should be sought. Thank you for watching this video! Please remember to like and subscribe to see more IRA and educational content, and check out our channel for more videos! Also, be sure to visit our website for FREE weekly online classes! For any other information on our company, or for setting up your free consultation with an IRA Specialist, Call us at 855-FUN-IRAS or email us at IRASpecialists@QuestTrust.com today! Facebook: LinkedIn: ...(read more)


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When considering retirement savings options, the SEP IRA and the Solo 401(k) are two of the most popular choices. Both offer tax advantages, but they have different eligibility requirements and contribution limits. So, which one is better for you? The SEP IRA is a retirement plan designed for self-employed individuals and small business owners. It allows you to make tax-deductible contributions to an individual retirement account (IRA) for yourself and your employees. The maximum contribution limit is 25% of your net income or $58,000, whichever is less. The SEP IRA is easy to set up and maintain, and there are no administrative fees or costs. The Solo 401(k) is a retirement plan designed specifically for self-employed individuals and small business owners. It allows you to make tax-deductible contributions to an individual retirement account (IRA) for yourself and your employees. The maximum contribution limit is $57,000 or 100% of your net income, whichever is less. The Solo 401(k) is more complex to set up and maintain, but it offers more flexibility in terms of investment options and contributions. Both the SEP IRA and the Solo 401(k) offer tax advantages, but there are some key differences to consider. The SEP IRA is easier to set up and maintain, and the contribution limits are higher. However, the Solo 401(k) offers more flexibility in terms of investment options and contributions. Ultimately, it comes down to your individual situation. If you’re self-employed or a small business owner, you should consider both options and decide which one is best for you. Consider your retirement goals, contribution limits, and investment options to determine which plan is right for you. https://inflationprotection.org/which-is-better-for-me-the-sep-ira-v-s-the-solo-401k/?feed_id=72549&_unique_id=63f4e5aed74f5 #Inflation #Retirement #GoldIRA #Wealth #Investing #401k #alternativeinvesting #investing #Investments #ira #openrothira #quest #questselfdirectedira #questtrustcompany #realestate #Retirement #RothIRA #selfdirectededucation #selfdirectedira #selfdirectediracustodian #selfdirectedirallc #selfdirectedrealestate #selfdirectedsolo401k #sepira #sepiravssolo401k #simpleira #Solo401k #TaxFree #traditionalIRA #wealthbuilding #SpousalIRA #401k #alternativeinvesting #investing #Investments #ira #openrothira #quest #questselfdirectedira #questtrustcompany #realestate #Retirement #RothIRA #selfdirectededucation #selfdirectedira #selfdirectediracustodian #selfdirectedirallc #selfdirectedrealestate #selfdirectedsolo401k #sepira #sepiravssolo401k #simpleira #Solo401k #TaxFree #traditionalIRA #wealthbuilding
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