Why Self-Employed Dentists Are Replacing the SEP IRA With a Solo 401(k) and Saving Up to $23,000 More Per Year
A Solo 401(k) allows self-employed dentists to contribute roughly $51,000 annually compared to $28,000 with a SEP IRA, creating approximately $23,000 in additional tax-deferred savings per year and reducing the annual tax bill by roughly $7,360 for those …