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This money.SE question and this BogleHeads forum thread both seem to ask about whether or not you can contribute to both a SEP-IRA and a Solo 401(k) at the same time for the same business. I'm not getting a clear answer anywhere.
If it matters, this is in regards to an LLC filing under Subchapter S. I'm hoping I can do a SEP-IRA now, and set up a Solo 401(k) if I hit the SEP-IRA limit. Can I do this?
You can contribute to both but the total contribution is capped:
More than one plan. If you contribute to a defined contribution plan (defined in chapter 4), annual additions to an account are limited to the lesser of $53,000 or 100% of the participant's compensation. When you figure this limit, you must add your contributions to all defined contribution plans maintained by you. Because a SEP is considered a defined contribution plan for this limit, your contributions to a SEP must be added to your contributions to other defined contribution plans you maintain.
Source: https://www.irs.gov/pub/irs-pdf/p560.pdf on page 6.