Maximize your contributions and save tax dollars with a Self Employed 401K

Self-employed individuals and owner-only businesses can make huge savings by making tax-deductible contributions for retirement through a Self Employed 401K plan. This can help reduce your taxes substantially as it allows you to deduct the full plan contribution from your taxable income.

The Self Employed 401K allows a self-employed person to set aside retirement savings money and receive a tax break from the contributions. This was established by Tax Relief Act of 2001 and has been a retirement life-saver for millions of small business owners across the country. The only limitation for enrolling in the Self Employed 401K is that you do not have any employees in your organization other than your spouse. Your Self Employed 401K may be extended to a Mini 401K for immediate family members. It is essentially a tax-deferred retirement plan implying no taxes are paid now, but will have to be paid when you withdraw the money after retirement. A Self Employed 401K (also referred to as Solo 401(k)) can be established with maximum contributions without the additional costs associated with normal 401(k) plans.

Our online service can help you design your 401K and get you connected to leading financial institutions for your Self Employed 401K plan. Some of the institutions will not even charge you a setup-fee or annual account fee for signing up with their retirement savings plan. With answers from a few simple questions, we can suggest the options that you have before you talk to a financial consultant and have all the information at your finger tips to make a conscientious decision.

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It can even be converted to a Mini 401(k) to cover the owner's immediate family members allowing several family members to get the advantages available through a Solo 401(k).