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 Content preview:  Hi! As a business owner or freelancer, you have far more easy
    options to reduce taxable income than those on W2. Let’s all take advantage
    of this! One of the main areas where this is possible is through deferring
    tax on your compensation. What is that? It is a fancy way of saying "retirement
    plans.” 
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Hi!

As a business owner or freelancer, you have far more easy options
to reduce taxable income than those on W2. Let=E2=80=99s all take
advantage of this!

One of the main areas where this is possible is through deferring
tax on your compensation. What is that? It is a fancy way of
saying "retirement plans.=E2=80=9D

Here=E2=80=99s a breakdown of your best options for 2025:

=E2=80=8B

1=EF=B8=8F=E2=83=A3 Solo 401(k) =E2=80=93 Maximize Contributions & Tax Dedu=
ctions
---------------------------------------------------------

=E2=9C=94 Best for: freelancers, contractors, and solo business owners
with no employees
=E2=9C=94 2025 Tax Deduction Limit: $70,000 total. This means you put the
following amounts away and simultaneously reduce your taxable
income:

* Employee contributions up to $23,500 ($31,000 if 50+ with
catch-up contributions)
* Employer contributions up to 25% of net self-employment income
=E2=80=8B=E2=9C=94 Key Benefit: Allows you to contribute as both the employ=
er &
employee, helping you reach the max faster than most other plans.
=E2=9C=94 This means you can contribute the $23,500 even if that is all
your s-corp earned - and write off the whole amount!

=E2=80=8B

2=EF=B8=8F=E2=83=A3 SEP IRA =E2=80=93 Simple & High Contribution Limits
-----------------------------------------------

=E2=9C=94 Best for: Self-employed individuals or small business owners
with no or few employees
=E2=9C=94 2025 Contribution Limit: 25% of net self-employment income, up
to $70,000
=E2=80=8B=E2=9C=94 Key Benefit: Easy to set up & fund=E2=80=94you can contr=
ibute at tax
time to lower last year=E2=80=99s taxable income by up to 70k - wow. No
required annual contributions. These are also extremely easy to
set up. I created mine with a 20 min call to my broker and one
wire.

=E2=80=8B

3=EF=B8=8F=E2=83=A3 SIMPLE IRA =E2=80=93 Great for Businesses with Employee=
s
----------------------------------------------------

=E2=9C=94 Best for: Businesses with employees looking for an affordable
plan
=E2=9C=94 2025 Contribution Limit: $16,500 ($20,000 if 50+ with catch-up
contributions).

=E2=9C=94 Key Benefit: SIMPLE IRAs allow business owners to make
deductible contributions for themselves while offering a
cost-effective way to provide retirement benefits if they choose.

=E2=80=8B

4=EF=B8=8F=E2=83=A3 Defined Benefit Plan =E2=80=93 The Ultimate Tax Shelter=
 for
High-Income Earners
-----------------------------------------------------------------

=E2=9C=94 Best for: High-earning solopreneurs or business owners who want
to turbocharge retirement savings
=E2=80=8B=E2=9C=94 2025 Contribution Limit: Based on actuarial calculations=
, but
can exceed $300,000+ per year
=E2=80=8B=E2=9C=94 Key Benefit: Massive pre-tax contributions - ideal for t=
hose
needing aggressive tax deferral. Can be combined with a Solo
401(k) for even higher deductions.

=E2=80=8B

5=EF=B8=8F=E2=83=A3 Roth Solo 401(k) =E2=80=93 Tax-Free Withdrawals in Reti=
rement
---------------------------------------------------------

=E2=9C=94 Best for: Business owners who expect to be in a higher tax
bracket later
=E2=80=8B=E2=9C=94 2025 Contribution Limit: $23,500 ($31,000 if 50+) in Rot=
h
contributions, plus employer contributions on the pre-tax side
=E2=9C=94 Key Benefit: No tax deduction today, but 100% tax-free growth &
withdrawals in retirement. This is huge because even if your
portfolio is up 10,000%, you still do not pay tax at withdrawal.

=E2=80=8B

6=EF=B8=8F=E2=83=A3 Traditional & Roth IRAs =E2=80=93 Simple but Limited
------------------------------------------------

=E2=9C=94 Best for: Anyone looking to save outside of an
employer-sponsored plan - this is perfect for a spouse that is
not self-employed, for example
=E2=9C=94 2025 Contribution Limit: $7,000 ($8,000 if 50+)
=E2=80=8B=E2=9C=94 Key Benefit:

* Traditional IRA: Tax deduction today, but withdrawals are taxed
in retirement.
* Roth IRA: No tax deduction today, but all growth & withdrawals
are tax-free.

=E2=80=8B

=F0=9F=92=A1 Pro Tip: Many Business Owners Layer Multiple Plans
----------------------------------------------------

* Solo 401(k) + Defined Benefit Plan =3D Stack deductions for
ultra-high contributions. This can add up to over $350,000 in tax
deductions
* Roth IRA + SEP IRA =3D Tax-free & tax-deferred growth combo. Up
to 70k SEP deduction plus tax free growth with the Roth
* SIMPLE IRA is great for small teams, while Solo 401(k) is
unbeatable for solo entrepreneurs.

Need help?

We can help put together a strategy for you. Much of this you can
self-implement, but if you do not have time, we have full service
options.

Since some of these strategies require significant onboarding
time on our end, we must get started during this part of the
season. Please reply back to this email by this week if you need
help or have questions.

--

George Dimov CPA

www.dimovtax.com

(833) 829-1120 toll free

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  <!-- Content Placeholder -->
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uto"><tbody><tr><td>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">Hi!</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">As a <strong>business owner or freelancer</strong>, you have <strong>far =
more easy options</strong> to <strong>reduce taxable income </strong>than t=
hose on W2. Let=E2=80=99s all take advantage of this! </p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">One of the main areas where this is possible is through deferring tax on =
your compensation. What is that? It is a fancy way of saying "retirement pl=
ans.=E2=80=9D </p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">Here=E2=80=99s a breakdown of your best options for 2025:</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">=E2=80=8B</p>
<h3 class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em"><strong>1=EF=
=B8=8F=E2=83=A3 Solo 401(k) =E2=80=93 Maximize Contributions &amp; Tax Dedu=
ctions</strong></h3>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">=E2=9C=94 <strong>Best for:</strong> freelancers, contractors, and solo b=
usiness owners with no employees<br>=E2=9C=94 <strong>2025 Tax Deduction Li=
mit:</strong> <strong>$70,000</strong> total. This means you put the follow=
ing amounts away and simultaneously reduce your taxable income:</p>
<ul class=3D"unordered_list" style=3D"margin-bottom:1.2em;line-height:1.5em=
;font-size:16px">
<li class=3D"list_item" style=3D"margin-bottom:1.2em;line-height:1.5em;font=
-size:16px"><span>Employee contributions up to <strong>$23,500</strong> (<s=
trong>$31,000 if 50+</strong> with catch-up contributions) </span></li>
<li class=3D"list_item" style=3D"margin-bottom:1.2em;line-height:1.5em;font=
-size:16px"><span>Employer contributions up to <strong>25% of net self-empl=
oyment income<br>=E2=80=8B</strong>=E2=9C=94 <strong>Key Benefit:</strong> =
Allows you to contribute as both the <strong>employer &amp; employee</stron=
g>, helping you reach the max faster than most other plans.<br>=E2=9C=94 Th=
is means you can contribute the $23,500 even if that is all your s-corp ear=
ned - and <strong>write off the whole amount!</strong> </span></li>
</ul>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">=E2=80=8B</p>
<h3 class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em"><strong>2=EF=
=B8=8F=E2=83=A3 SEP IRA =E2=80=93 Simple &amp; High Contribution Limits</st=
rong></h3>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">=E2=9C=94 <strong>Best for:</strong> Self-employed individuals or small b=
usiness owners with no or few employees<br>=E2=9C=94 <strong>2025 Contribut=
ion Limit:</strong> <strong>25% of net self-employment income, up to $70,00=
0<br>=E2=80=8B</strong>=E2=9C=94 <strong>Key Benefit:</strong> <strong>Easy=
 to set up &amp; fund</strong>=E2=80=94you can contribute at tax time to lo=
wer last year=E2=80=99s taxable income by up to 70k - wow. No required annu=
al contributions. These are also extremely easy to set up. I created mine w=
ith a 20 min call to my broker and one wire. </p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">=E2=80=8B</p>
<h3 class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em"><strong>3=EF=
=B8=8F=E2=83=A3 SIMPLE IRA =E2=80=93 Great for Businesses with Employees</s=
trong></h3>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">=E2=9C=94 <strong>Best for:</strong> Businesses with employees looking fo=
r an affordable plan<br>=E2=9C=94 <strong>2025 Contribution Limit:</strong>=
 <strong>$16,500</strong> (<strong>$20,000 if 50+</strong> with catch-up co=
ntributions).</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">=E2=9C=94 <strong>Key Benefit:</strong> SIMPLE IRAs allow business owners=
 to <strong>make deductible contributions for themselves</strong> while off=
ering a <strong>cost-effective way</strong> to provide retirement benefits =
if they choose.</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">=E2=80=8B</p>
<h3 class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em"><strong>4=EF=
=B8=8F=E2=83=A3 Defined Benefit Plan =E2=80=93 The Ultimate Tax Shelter for=
 High-Income Earners</strong></h3>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">=E2=9C=94 <strong>Best for:</strong> High-earning solopreneurs or busines=
s owners who want to <strong>turbocharge retirement savings<br>=E2=80=8B</s=
trong>=E2=9C=94 <strong>2025 Contribution Limit:</strong> Based on <strong>=
actuarial calculations</strong>, but can exceed <strong>$300,000+ per year<=
br>=E2=80=8B</strong>=E2=9C=94 <strong>Key Benefit:</strong> <strong>Massiv=
e pre-tax contributions</strong> - ideal for those needing aggressive tax d=
eferral. Can be <strong>combined with a Solo 401(k) for even higher deducti=
ons</strong>.</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">=E2=80=8B</p>
<h3 class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em"><strong>5=EF=
=B8=8F=E2=83=A3 Roth Solo 401(k) =E2=80=93 Tax-Free Withdrawals in Retireme=
nt</strong></h3>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">=E2=9C=94 <strong>Best for:</strong> Business owners who expect to be in =
a <strong>higher tax bracket later<br>=E2=80=8B</strong>=E2=9C=94 <strong>2=
025 Contribution Limit:</strong> <strong>$23,500 ($31,000 if 50+) in Roth c=
ontributions</strong>, plus employer contributions on the <strong>pre-tax</=
strong> side<br>=E2=9C=94 <strong>Key Benefit:</strong> No tax deduction to=
day, but <strong>100% tax-free growth &amp; withdrawals in retirement</stro=
ng>. This is huge because even if your portfolio is up 10,000%, you still d=
o not pay tax at withdrawal. </p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">=E2=80=8B</p>
<h3 class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em"><strong>6=EF=
=B8=8F=E2=83=A3 Traditional &amp; Roth IRAs =E2=80=93 Simple but Limited</s=
trong></h3>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">=E2=9C=94 <strong>Best for:</strong> Anyone looking to save outside of an=
 employer-sponsored plan - this is perfect for a spouse that is not self-em=
ployed, for example<br>=E2=9C=94 <strong>2025 Contribution Limit:</strong> =
<strong>$7,000 ($8,000 if 50+)<br>=E2=80=8B</strong>=E2=9C=94 <strong>Key B=
enefit:</strong></p>
<ul class=3D"unordered_list" style=3D"margin-bottom:1.2em;line-height:1.5em=
;font-size:16px">
<li class=3D"list_item" style=3D"margin-bottom:1.2em;line-height:1.5em;font=
-size:16px"><span><strong>Traditional IRA:</strong> Tax deduction today, bu=
t withdrawals are taxed in retirement.</span></li>
<li class=3D"list_item" style=3D"margin-bottom:1.2em;line-height:1.5em;font=
-size:16px"><span><strong>Roth IRA:</strong> No tax deduction today, but al=
l growth &amp; withdrawals are <strong>tax-free</strong>.</span></li>
</ul>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">=E2=80=8B</p>
<h3 class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em"><strong>=F0=
=9F=92=A1 Pro Tip: Many Business Owners Layer Multiple Plans</strong></h3>
<ul class=3D"unordered_list" style=3D"margin-bottom:1.2em;line-height:1.5em=
;font-size:16px">
<li class=3D"list_item" style=3D"margin-bottom:1.2em;line-height:1.5em;font=
-size:16px"><span><strong>Solo 401(k) + Defined Benefit Plan</strong> =3D <=
strong>Stack deductions for ultra-high contributions</strong>. This can add=
 up to over $350,000 in tax deductions </span></li>
<li class=3D"list_item" style=3D"margin-bottom:1.2em;line-height:1.5em;font=
-size:16px"><span><strong>Roth IRA + SEP IRA</strong> =3D <strong>Tax-free =
&amp; tax-deferred growth combo</strong>. Up to 70k SEP deduction plus tax =
free growth with the Roth</span></li>
<li class=3D"list_item" style=3D"margin-bottom:1.2em;line-height:1.5em;font=
-size:16px"><span><strong>SIMPLE IRA</strong> is great for <strong>small te=
ams</strong>, while <strong>Solo 401(k) is unbeatable for solo entrepreneur=
s</strong>.</span></li>
</ul>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
"><strong>Need help?</strong></p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">We can help put together a strategy for you. Much of this you can self-im=
plement, but if you do not have time, we have full service options. </p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">Since some of these strategies require significant onboarding time on our=
 end, we must get started during <strong>this</strong> part of the season. =
Please reply back to this email by <strong>this week</strong> if you need h=
elp or have questions. </p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">-- </p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">George Dimov CPA</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">www.dimovtax.com</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">(833) 829-1120 toll free </p>
</td></tr></tbody></table>

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