|Age 50 and more if you are over. Doesnít look like a simple IRA would be an option for you. |
I would discuss maxing out retirement contributions to your advantage and see where that lands you tax wise before taking self employment tax deductions. Sometimes taking your income down so low doesnít benefit you. At least from what you described, it making it difficult for you to max out these accounts, which sounds like itís a priority for you.