Contributing to a Solo 401(k) or SEP-IRA can reduce taxable income, and Section 179 or bonus depreciation lets you deduct equipment costs upfront.

Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

If it’s a structured settlement and you aren’t getting a lump lum, you could contribute some of that to a Roth or Traditional IRA each year, or if you are self employed even more to a SEP IRA.Also what’s your short term, mid term and long term objectives?

Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

Average returns on $200k in VTI or VOO turns into about $3M in 30 years even if you contribute $0 between now and then.

It’s basically an unlimited contribution Roth, with tax free borrowing. 

If you have a business entity(you want to properly track money going in / out from its owners).They will likely be classified as contributions / distributions.Best of luck!

I look forward to engaging with you all, sharing insights, and hopefully contributing to discussions as I progress on my journey. 

@Yents Ybrimovic If the 203k loan only requires 3.5% down and you can finance all the repairs in the loan - then what exactly is your friend contributing?

I will not make all my money back that was contributed.