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Hello Everyone!

Presently, I am maxing out my 401k with my W2 job, and would like tax advice on what to do with the 1099 (property manager) income (only about 8k annually) that I have on the side.

I am looking for ways to reduce the tax burden. Right now, I don't deduct anything - which may be a mistake. I do use my PC occassionally for work, but enough to make a difference with the income I have? I don't know.

Mostly, I was wondering what the IRS says about contributing money to a pretax investment. Because I am contributing 12K this year to my 401k, am I allowed to open and contribute more to a SEP or solo 401k as well? If not - does anyone have any other suggestions for this income?

Thank you very much in advance!

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