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[quote=Anonymous]Recently I found myself reading through the posts about the small business owner who's sitting on a lot of cash, and I am in similar situation. Last year I brought in a respectable $200,000, which is more than the $120K I made the last few years. Like the other OP, I find some comfort in holding liquid funds because I don't know if I'll be able to keep earning the same money with my business, plus my spouse brings in around $70K annually. I think (irrationally?) that stocks are overvalued right now, but most of my 401k is stocks.

This means that I have a 2023 big tax bill because my quarterly estimates were based on prior year earnings. So far I've put $30,000 into my solo 401k for 2023 (employee max plus employer match). I also max a Roth account but only started it a few years ago.
 
Other info:
 - I am 41 and married with a 7-year old. 
 - Combined we have about $600-$650K in our retirement accounts, which I know is not a lot. The daycare years were lean and my spouse is not a high earner. 
 - We have about $35,000 in a 529 for the kid.
 - $90K is in CDs/HYSA and another $90K in I-bonds and T-Bills. This is our emergency fund plus extra savings. 
 - Another $60K is in a taxable brokerage account.
 - Our PITI is $1800/month and our only other debt is a small amount of student loans ($14K that we've been making minimum payments on). We have decent equity in our home.
 -  - No expected inheritances or family help. Health insurance is through spouse's job.

My questions for you financial gurus: 
 - Should I throw a bunch of cash as employer match into my solo 401k to bring down my 2023 tax bill? As it stands now, it looks like I'll owe $15,000+ to the feds, which makes my stomach hurt. If I throw $10K - $20K (or more??) into my retirement account, I won't owe as much. 
 - On the flip side, if I wind up earning more in 2024, should I start focusing on 2024 tax year retirement?
 - Do I have too much cash? Or is it wise to keep a large reserve fund for a rainy day, since my earnings are volatile?
 - At what point do I stop hoarding cash at 5.__% and put more in the market? 
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