Can I contribute to both a Roth IRA and the Roth provision of a Solo 401(k)?

YES! This is great news for individuals who qualify for both a Roth IRA and a Solo 401(k) since you have two plans to make Roth contributions to and increase your tax-free earning potential! For individuals who qualify for both a Roth IRA and a Solo 401(k) the combined Roth contribution limits for 2023 are $29,000 if under age 50 and $37,500 if 50 or older. Eligible married couples who both work in the business can each fund their own Solo 401(k) and double those amounts.