Retirement plans remain one of the most powerful tax-saving tools available to small-business owners and self-employed professionals. Establish or Fund a Retirement Plan Before Year-End If you don’t yet have a retirement plan, setting one up before December 31 allows you to make both employee and employer contributions for 2025. For a solo business, a 401(k) plan (often referred to as an “individual 401(k)” or a “solo 401(k)”) is an ideal option. Your owner-employee contribut