self employed retirement

Self-Employed Retirement Plans

How would you like to sock over $120,000 per year into a tax deferred savings account? We can share with you the most powerful tools for Wealth Building.

Compensation for a self-employed individual (sole proprietor or partner) is that person’s “earned income.”* The starting point to determine the individual’s earned income is the net profit amount from the Schedule C (or Schedule K-1 for a partnership). Use this calculator as a starting point to assess your potential maximum contribution amount for a Self-Employed 401(k), a SIMPLE IRA, or an SEP. *Earned Income = Net Profit – 1/2 of Self-Employment Tax – Contribution

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