Very interesting! Thanks for pulling that for me – appreciate it.

And even more so that you can do it through Vanguard!! I literally JUST opened up my first account with them (SEP, of course) so I like hearing they offer solos as well :)

Just went back and nixed everything I said about solo stuff until I research it more… Y’all commenters are smart.

FYI, Here are 7 additional reasons for a Solo over a SEP. Ref: htttp://en.wikipedia.org/wiki/Solo_401(k)

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Differences between a Solo 401(k) and a SEP IRA

Although both the Solo 401(k) and SEP IRA function as a retirement vehicle for self-employed individuals, the Solo 401(k) offers a number of features not found in the SEP.

1. It is easier to contribute the maximum amount in a Solo 401(k) because of the Salary Deferral component of $17,500, which is not available with a SEP IRA.

2. A Solo 401(k) Plan includes a $5500 catch-up contribution for plan participant’s over the age of 50, which is not the case for a SEP IRA.

3. A Solo 401(k) Plan can offer the owner Roth contributions, even in the case where the owner is otherwise not eligible to contribute to a Roth IRA due to the Roth’s annual income limitation.

4. Unlike an IRA[disambiguation needed], a special custodian is not required to be used. Most Solo 401(k) Plans can be structured as trustee directed plans, hence, the 401(k) plan account can generally be opened at any local bank and most financial institutions. Because this allows for faster and more economical transactions.

5. The Solo 401(k) allows for a personal loan[18] up to $50,000 or 50% account of the plan participant’s account value, whatever is less.

6. The Solo 401(k) is not required to pay UDFI on leveraged real estate, assuming the loan satisfied the rules under Internal Revenue Code Section 514.

7. Prohibited Transactions can be fixed in a Solo 401(k), while in a SEP IRA a Prohibited Transaction will often lead to the liquidation of the plan.

I have to disagree w/your accountant. You can contribute up to 4/15 into a Solo (I’ve done this every year since 2008) and setting it up via Vanguard is as simple as an online application. Easy Peasy…

Smart man! Gotta put aside a % of all extra income cuz the tax man does come a knockin’ later on… Hopefully you don’t get pinged with any penalties for not paying quarterly throughout the year.

According to the the loan-haters, yes :) Hopefully you’re saving/investing this “extra” money!

This was the first year that I made a year-long effort to get my withholding as close as possible, so this year’s was the smallest refund I’ve gotten in ages… So… uh… I’m supposed to feel happy about this, right? :/

THAT WOULD BE NICE!!

It may be chump change in comparison, but putting it next to any of my previous 6 years I’d gladly take that! We owed every single year *thousands* haha…

It’ll be my job to get that number up to a 9 when all is said and done ;)