Self-employed individuals and businesses employing only the owner, partners and spouses have several options for tax-advantaged savings: an Individual 401(k) plan, a SEP IRA, a SIMPLE IRA, or a Profit Sharing plan. Each option has distinct features and amounts that can be contributed to the plan each year. Use the Individual 401(k) Contribution Comparison to estimate the potential contribution that can be made to an Individual 401(k) compared to Profit Sharing, SIMPLE, or SEP plan.
KJE Computer Solutions, LLC's information and interactive calculators are made
available to you as self-help tools for your independent use and are not
intended to provide investment advice. We cannot and do not guarantee their
applicability or accuracy in regards to your individual circumstances. All
examples are hypothetical and are for illustrative purposes. We encourage you
to seek personalized advice from qualified professionals regarding all personal
finance issues. More