| account type | employer contribution | employer reqd every year | employer tax dedduction | employee contribution | employee tax deduction | number of employees | business type |
| SEP IRA | 0% – 25% of compensation (all employees same %; max $58,000) | No (can change % year to year) | yes, 100% tax deductable for employer | possible in lieu of other IRA cont. | same as as regular IRA cont. | 20 or less | sole-proprietor, LLC, S-Corp, C-Corp |
| SIMPLE IRA | Opt1: 1% – 3% employee matching or Opt 2: 2% for all (regardless of employee cont) | Yes (Opt1 can be 1% at most 2 out of 5 years) | yes, 100% tax deductable for employer | Up to 100% of comp., with a max $13,500 for 2021 ($16,500 age 50+)* | yes; contributions pre-tax | 100 or less | sole-proprietor, LLC, S-Corp, C-Corp |
| solo/ self-employed 401k | 0% – 25% of compensation (all participants same %; max $58,000) | No (can change % year to year) | yes, 100% tax deductable for employer | up to $19,500 (max total including employer cont. $58,000)* | yes; contributions pre-tax | Only you & spouse | sole-proprietor, LLC, S-Corp, C-Corp |
* employee can still make other IRA contributions as well as this plan contributions.