Self-employed retirement accounts are the most powerful tax shelter available. See how much you can shelter — and save.
Open a self-employed retirement account (all $0 fees):
SEP-IRA: contribute up to 25% of net SE income (max $69k). Dead simple to open. No annual filing. Can fund until tax deadline.
Solo 401k: employee contribution up to $23,500 + employer (25% of net income) = up to $70k. Better for incomes under $100k since you can always max the $23,500 employee part first. Roth option available.
Rule of thumb: Income under $100k → Solo 401k. Over $150k → either works, SEP-IRA simpler.