Tax Savings for Self-Employed Workers Using Retirement Accounts

We’re in the thick of tax season, and with that comes many questions for us about ways to save money on taxes.

This is an incredibly broad topic, so the focus of this post is on self-employed workers or those working in a small business. 

(One important thing to remember - a side hustle is a business. If you sell artwork and generate income, sell collectibles online, or drive for Uber or Lyft, these can qualify for self-employment and open these options for you to save on taxes!)

Checking with your CPA or tax preparer is ultimately the best resource because they will know your situation in more depth, but one of the common ways we help clients save on taxes is through a retirement plan or account.

From our perspective this does two good things:

1) gives you tax savings right now by reducing taxable income (unless we’re doing Roth contributions) and

2) helps accumulate savings and build wealth.

We developed a simple one-page guide for our most commonly used small business retirement plans.

Download the full guide here:

Small Business Retirement Comparison Guide 2026.

Download • 48KB

This helps navigate a lot of the FAQs we get:

Best options if you have no employees, a few, or many.

Deadlines around opening these accounts and when you can contribute.

Limits/maximums on contributions.

What sort of investments?

Am I required to contribute every year?

Have more in-depth questions about your situation? Send them over and we’ll do our best to help.