Solo 401(k) Contribution Calculator
Enter your details to generate the contribution report.
What Is A Solo 401k?
A solo 401k is a retirement plan designed specifically for self-employed individuals and business owners with no full-time employees other than a spouse. It allows you to contribute to retirement in two ways - both as the “employee” and the “employer” - which can significantly increase how much you’re able to save and deduct each year.
Like a traditional 401k, contributions can be made pre-tax to lower your taxable income, or as Roth contributions for tax-free growth. A solo 401k also permits higher contribution limits compared to a SEP IRA at certain income levels, optional Roth components, and the ability to take participant loans, making it one of the most flexible and powerful retirement accounts for solo business owners.
Definitions
Please select either sole proprietorship or corporation. The calculations for your contributions are slightly different depending on the business type.
For sole proprietors, this is your net income from your tax Schedule C or C-EZ. For single owner corporations with no employees other than yourself or your spouse, this is your w-2 wages.
Your current age. For SIMPLE and Individual 401(k) plans you are able to make additional contributions, known as 'Catchup Contributions' if you are age 50 or older by the end of the year.
Maximum Annual Contributions
| Business Type | Sole Proprietorship |
| Net Income | $0.00 |
| Current Age | 0 |
| Results Summary | |||
|---|---|---|---|
| Category | Solo 401(k) | SEP IRA | SIMPLE IRA |
| Adj. Earned Income* | $0 | $0 | $0 |
| Employer Contrib. Match/Profit Share | $0 | $0 | $0 |
| Elective Deferral | $0 | - | $0 |
| Catch-Up | $0 | - | $0 |
| MAX TOTAL | $0 | $0 | $0 |