Flooring pros: how are you saving for retirement with all these LVP jobs?

Came across this thread on r/Flooring where pros are spilling the beans on where they source their materials, but it got me thinking about the bigger picture - retirement and savings for us installers. I've been in the game 8 years now, mostly doing vinyl plank installs with Coretec and Lifeproof planks, and while the work is steady, it's tough to set aside without a solid plan. Someone in the Flooring Contractors Network mentioned using a SEP-IRA to stash away earnings from those big commercial tile jobs. If you're a flooring guy, what's your go-to for retirement - 401k through a contractor association or just maxing out a Roth? Also, any tips on deducting tools like my trusty Festool sander? Edit: forgot to mention, that thread had some great supplier recs too.

Just wrapped up my first solo hardwood refinish gig that cleared enough to fund a full year of contributions to my solo 401k - flooring life's treating me right finally.

Set up a solo 401k last year, lets me sock away 20% of my net from LVP installs without the hassle. Talk to a CPA who gets trades, theyll tailor it to your tool deductions and material costs.

Man, I feel you on the steady but scraping by with these plank jobs.

Screw the big box stores pushing their crap materials, they jack up prices and leave us holding the bag on warranties that never pay out.

Those PE firms buying up suppliers are killing independent flooring guys, forcing us into their overpriced ecosystem.

For retirement, I roll all my tile underlayment and adhesive deductions into a SEP-IRA, easy tax break and builds up quick on repeat residential gigs.

Pro tip: join a trade group like the flooring association for group 401k rates, cheaper fees than going alone.

Look into Roth conversions if youre over 50, I did it after a big epoxy floor pour and it saved me tons in taxes long term.

watched a Tommy Mello vid on contractor finances, he swears by profit-first budgeting for savings - changed my whole approach to quoting carpet jobs.

SEP-IRAs are gold for us solo flooring ops, max it out yearly and deduct every pull bar and knee pusher.

Same here brother, been busting my hump on vinyl transitions all season and still barely padding the nest egg.

Ugh, clients nickel and diming on every square foot makes saving feel impossible some months.

Deduct your Home Depot runs for LVP samples religiously, adds up to serious IRA fuel over time.

Insurance companies are the real thieves, hiking premiums on us floor guys while we grind through gouges and callbacks.

This BS with material markups is why half the pros I know are one bad season from folding.

PE vultures circling flooring suppliers now too, gonna make quality installs impossible without selling your soul.

Damn straight, saw a thread in Hardwood Floor Installers group raging about the same takeover crap.