Roth Type IRA with SEP, SIMPLE, Qualified or 401k

Can any of the retirement plans set up for self employed individuals be Roth type contributions rather than traditional? That is, is there anyway to beat the annual $4000 cap on the Roth contribution as the SEP and Simple allow a self-employed individual to do on a traditional IRA contribution?

You can open a Solo 401k with a Roth 401k side account. Any "employer" match or profit sharing will have to be made to the deferred account, but your contributions can be allocated to the Roth side up to the current 401k employee contribution limits. Using a solo 401k will also leave your regular Roth IRA contribution option open as well.

The Roth IRA contribution limits for 2008 are $5000 (plus an extra $1000 if you are over 50). This is of course subject to income phase out limits. If you contribute for yourself and a spouse (even if your spouse does not work), you can effectively double this contribution amount.

A Roth 401K plan allows $15,500 in additional Roth contributions in 2008 (plus an extra $5000 if you are over 50). Unlike the individual Roth IRA, there are no income phase out limits with the Roth 401K, but if you have other employees, you have non-discrimination tests to deal with instead. If your spouse does any kind of work for your business, you can effectively double this contribution amount as well.

OK. Thank you for the information. I'll research how to open a 401K.