Understanding the Saver's Tax Credit

As a self-employed SLP filing a 1099, you can benefit from the Saver's Tax Credit by contributing to a qualified retirement plan, such as a Solo 401(k) or a Simplified Employee Pension (SEP) IRA. This credit allows eligible individuals to reduce their tax liability by up to 50% of their retirement contributions, depending on income and filing status. By taking advantage of this credit, you not only lower your current tax bill but also invest in your future financial security. Learn more about it in this free 1-page resource.

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