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SEP IRA vs. Solo 401(k): Which Plan Offers Greater Flexibility and Tax Benefits for the Self-Employed?

As a self-employed person, saving for retirement is an important part of effective financial planning. Fortunately, there are several retirement savings options available that offer tax benefits and the ability to save for retirement. Two of the most popular options for self-employed individuals are SEP IRAs and individual 401(k)s, also known as solo 401(k)s.

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