Best Retirement Plan Options for a Solo-Owned C or S Corporation

RetirementBusiness Owners
Written By Blake Briscoe

Because you operate your business as a solely owned corporation (C or S) with no employees, several excellent retirement plans are available to you that can provide significant tax deductions and help you build wealth for retirement.

Some of the best options include:

  • SEP-IRA. Easy to set up and allows employer contributions of up to $69,000 for 2024 ($70,000 for 2025).

  • Solo 401(k). Offers the highest contribution limits, with a combination of salary deferrals and employer contributions—up to $81,250 for 2025 if you qualify for super catch-up contributions.

  • SIMPLE-IRA. A great choice for modest salaries, allowing employee deferrals and employer-matching contributions.

  • Profit-sharing plan. Flexible employer contributions of up to 25 percent of salary, with loan options if needed.

Each of these plans comes with different benefits and administrative requirements, so choosing the right one depends on your salary level, cash flow, and long-term financial goals.

If you haven’t yet set up a retirement plan, there’s still time to act for the 2024 tax year, depending on the plan you choose.

Blake Briscoe
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