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Contributions and Rules for Self-Employed Retirement Accounts
The chapter explores the deadlines and regulations for establishing a Solo 401(k) or SEP IRA for self-employed individuals, emphasizing distinctions between S corps and sole proprietors. It underscores the significance of expert tax planning to optimize wealth building through retirement savings, discussing changes allowing S-Corp owners to initiate a solo 401(k) later, and the declining popularity of SEP IRAs as a retirement option.