Small-business retirement plan selector
Compare a simplified SEP IRA, SIMPLE IRA and solo 401(k) fit using owner status, staff, contributions and administration.
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Results update as you change the inputs.
Preliminary plan fitSolo 401(k) often fits an owner-only business
- Solo 401(k) owner-only fit
- Possible
- SIMPLE IRA fit
- Usually unnecessary for owner-only
- SEP IRA fit
- Possible
- Entered owner deferral
- $0
- Entered employer contribution
- $0
- Annual administration budget
- $0
This is an education screener, not a plan recommendation. Eligibility, compensation definitions, employee coverage, contribution limits, deadlines and third-party administration require review.
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Bring the assumptions, your records and the result to a tax professional before acting on a material tax or retirement decision.