I have a sep IRA through my employer (income is $120k and employer made $30k contribution last year). I am attempting to determine how to structure my retirement accounts through my side business.

I had a large lump sum through my side business last year ($1.2 mil). I missed the boat on opening a solo 401k in 2021 in order to contribute max on employee side. Can I contribute full $58k max through employer profit sharing side?

Online advice seems inconsistent. Some websites seem to suggest max employer contribution is $38,500 under a solo 401k. If that’s the case, can I contribute $38,500 to 401k and also open sep IRA and contribute $19,500 to make up the difference in the $58k max contribution?

Thank you!!