I have about $12K in Schedule C income. I have no other earned income. I have both an IRA and a self-employed 401(k).
What is the best way to maximize my deferrals? If I could I would put $12K in my 401(k) and another $7K in my IRA (I'm over 50). Is there a way to wiggle around with part employer and part employee deferrals in the 401(k)?