buksoRetirement plan SEP IRA SIMPLE solo
Not tax advice. General bookkeeping information only, checked against the official sources linked below (Canada Revenue Agency, IRS, provincial governments and Justice Laws) on Oct 17, 2026. Rules change; check with your accountant before you file.
United States
United States (2026): SEP-IRA: up to 25% of pay or $72,000. SIMPLE IRA: $17,000 deferral (+$4,000 catch-up at 50+). Solo 401(k) for an owner with no employees: $24,500 deferral plus employer contribution, total up to $72,000 (plus catch-up). Small employers starting a plan can get a startup credit of up to $5,000 a year for 3 years, plus $500 a year for automatic enrollment (Form 8881).
Official source: irs.gov