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📋 Key Takeaways for 2026 Taxes The Qualified Business Income (QBI) deduction is now permanent under the OBBBA, guaranteeing a minimum $400 deduction for eligible filers. The standard mileage rate has been aggressively increased to an unprecedented 72.5 cents per mile, providing massive savings for gig drivers. Gig workers can utilize restored 100% bonus depreciation … Read more
📋 Key Takeaways No, Uber does not offer a 401(k) because drivers are classified as 1099 independent contractors, completely disqualifying them from traditional corporate retirement benefits. Being an independent contractor allows you to open a Solo 401(k) or SEP IRA, unlocking contribution limits of up to $72,000 for 2026—much higher than a W-2 employee’s 401(k). … Read more
When the government passed the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act, it introduced over 90 sweeping changes to how Americans save for retirement. While corporate HR departments scrambled to update their 401(k) policies, gig workers, freelancers, and independent contractors were largely left to figure out the complex new rules on their … Read more
📋 Key Takeaways The Solo 401(k) allows freelancers to contribute up to $72,000 in 2026 ($79,500 if 50+), sheltering massive amounts of tax. You do not need to be an LLC or S-Corp to qualify; sole proprietors reporting on a Schedule C are fully eligible. It utilizes a dual structure: an employee elective deferral ($24,500 … Read more
✅ Key Takeaways (TL;DR): Part-time / side-hustle driver? → Open a SEP IRA in minutes. Zero paperwork. Full-time driver with high net profit? → The Solo 401(k) lets you save far more at the same income level. Age 50+? → The Solo 401(k) is the only option with a $7,500 catch-up contribution. Want tax-free retirement … Read more
📋 Key Takeaways Gig workers can contribute up to $72,000 in 2026 through a Solo 401(k) — far more than any W-2 employee’s 401(k). You do not need an LLC to open a Solo 401(k) or SEP IRA — a sole proprietor with a Social Security Number qualifies. The SECURE 2.0 Roth Catch-Up Rule fully … Read more
