Solo 401(k) vs SEP IRA: How Only the Solo 401(k) Allows the Mega Backdoor Roth Strategy
For self-employed professionals and small business owners, choosing the right retirement plan can significantly impact long-term wealth accumulation. Two popular options—the Solo 401(k) and SEP IRA—both offer substantial tax benefits, but they differ in crucial ways. The most significant distinction? Only the Solo 401(k) can accommodate the Mega Backdoor Roth strategy, a powerful tax planning […]