Tax/Retirement Planning
| TRADITIONAL IRA | SEP IRA | SOLO 401(K) PLAN | |
|---|---|---|---|
| Loan Feature | NO | NO | Yes 50% of Account Value up to $50,000 |
| Roth Feature | NO | NO | Yes Up to $17,500 No Income Restrictions |
| Nonrecourse Financing | Yes Subject to Tax | Yes Subject to Tax | Yes Generally No Tax |
| Maximum Annual Contributions | $5,500 $6,500 Catch-Up Limit | $52,000 No Catch-Up Contributions | $51,000 $57,500 Catch-Up Limit |
Catch-Up Contributions are only available to individuals over the age of 50.
Additional Information: US News/401K