hannamyluv - 2:23 am on Dec 16, 2005 (gmt 0)

If you have your own thing with no employees, run down to your local investment firm, open a SEP pronto and dump up to 20% of your income in tax free.

SEPs are the small business version of a 401k and the same rules apply. Problem is that if you have an employee, whatever you put in for yourself, you have to put the equal amount in for your employee.

But they are great for the self employed person on their own.