My father owns a business that my wife and I have been running since May 2015. We weren't sure if we would be sticking around, so last year, we were 1099 employees, and will do the same for some or most of this year, and then transfer ownership next year. To add another layer to this onion, my wife has been working also, but she has started working part time at the local library also. She will be full time starting in July. She still will do some work, and I want to keep her "on staff" to help justify some expenses like cell phone and computer use being run through the business. In the future, we will like be the owners and likely register as a S-corporation (unless we get advised otherwise). In the future, we would like to build the business up enough to hire one part or full-time employee, but growths beyond that is not likely in the near future (if ever)
Because we can live on one income, and because we want to take advantage of tax savings, I would like to start either a SEP IRA, Simple IRA, or Solo 401(k). I'm not sure what will be best. In the future (fifteen ish years) we plan on retiring, and I'd do a Roth conversion ladder.
We are 22 currently. Business should net at least $30k this year and will likely be between $40-60. Does anyone have advice, or where could I go to find the best advice? We have an average accountant, but generally don't know anyone who's a tax professional that is knowledgable about every retirement.