All Questions
10 questions
1
vote
1
answer
76
views
IRA options for a small amount of self-employment income
Most of my income comes from investments so I understand it is considered non-earned and is not eligible for IRA contributions. However, I have a small amount of self-employment income and would like ...
- 95
0
votes
1
answer
84
views
SEP IRA eligibility criteria?
I am trying to determine if I can establish and contribute to a SEP IRA. Here are what I think to be the relevant details and questions.
I receive a W-2 from my day job employer
I have side income ...
- 345
3
votes
0
answers
51
views
can SEP contribution be made more than one time for same year
Can a small employer make contribution to SEP similar to 401K with each pay check/1099 or at end of the year for previous year. So for example for 2021 contributions, can one give 10% in January 2022, ...
- 1,247
0
votes
1
answer
886
views
Backdoor Roth IRA conversion while owning SEP-IRA as well
I have a SEP-IRA from my consulting years, many years ago (I haven't contributed to it in years but it does have a balance).
I wanted to setup a backdoor Roth IRA conversion by creating Traditional ...
- 103
6
votes
1
answer
950
views
May I use my IRA account to pay off "parent plus" loans?
My spouse and I are 60 yrs old.
We paid for our first 3 children's higher education (in state 4 yrs $100,000) and launched them into adulthood without student loan debt, with the understanding they ...
- 61
1
vote
1
answer
100
views
Traditional IRA and SEP IRA at the same time
I am self employed through my LLC and I am also employed by a company via W2
What would be my contribution limits to SEP IRA and Traditional IRA?
Are my SEP IRA contribution limits separate from my ...
- 111
1
vote
2
answers
78
views
SEP IRA Contribution
I opened an SEP IRA account with chase and transferred $500.
Do I need to buy bonds or stocks using this amount this year itself or can I buy bonds after 2 years?
- 43
3
votes
0
answers
81
views
Can You Receive Both a Simple IRA and SEP IRA?
I am the employee of two companies. At one company, I receive a SEP IRA. I know that SEP IRAs are not included in the standard annual elective deferral limit. At the second company, I have the ...
- 671
2
votes
1
answer
87
views
SEP IRA across two tax years
I'm going to create an SEP-IRA for 2015, as I had some self employed income that contributed to a high marginal rate tax burden for that year.
However, the amount I'm allowed to contribute from ...
- 35.9k
1
vote
1
answer
417
views
What is the contribution limit for a SEP-IRA?
I have a small business that will file taxes as an S-Corp for the year of 2015. The company has 1 employee (me). I pay myself a decent salary. In order to bring the company's taxable revenue down, I ...
- 145