I was getting really excited about setting one of these up this year. I guess you can contribute up to $44k per year to your retirement with $148K+ in income. This looked like a pretty sweet deal, until I looked at it some more. First, I guess you have to set up an entity. Which is not a big deal; it's a one-time fee of less than $1000. But then you're already in the 39% tax bracket at $100K in taxable income. Plus you have to pay self-employment tax, which I think is like 15%! (Even though there's a cap on the 12.4% social security portion.) Does anyone have one of these set up? I just don't see the point. I hope I have the facts wrong.