This was a question from a client today. "I was wondering if you could advise me on a tax question: I was considering setting up a solo 401k through Vanguard. ...
  1. Hi, there are definitely tax advantages in contributing to a 401K account. The contributions can reduce your tax liability. I'm not sure how opening the Vanguar ... Read more

As a small business owner, I read that I am able to start a self-employed 401k and contribute 19k plus 25% of last years income. Would I also be able to start an IRA and deduct contributions from a second ...
  1. Traditional or Roth IRA for small business owners has a contribution limit of up to $6,000 with an additional $1,000 for contributors who are 50 or older (catch ... Read more