Solo 401(K) Calculator
Determines maximum Solo 401(k) contributions including both employee and employer portions
Your employee salary deferral amount
25% of net self-employment income
Employee deferral plus employer contribution
Annual contribution limit based on age
Frequently Asked Questions
What is a Solo 401(k)?
A Solo 401(k), also called an individual 401(k), is a retirement plan for self-employed individuals with no full-time employees (except a spouse). It allows both employee deferrals (up to $23,000) and employer profit-sharing contributions (up to 25% of net income).
What is the maximum Solo 401(k) contribution?
For 2024, the total maximum is $69,000 ($76,500 if age 50+). This includes up to $23,000 in employee deferrals ($30,500 if 50+) plus up to 25% of net self-employment income as employer contributions.
Solo 401(k) vs SEP IRA: which is better?
A Solo 401(k) typically allows higher total contributions for those earning under ~$350,000 because of the employee deferral component. It also offers a Roth option and loan provisions. A SEP IRA is simpler to administer but only allows employer contributions.
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