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Questions tagged [simple-ira]

Use this tag for questions about the SIMPLE IRA, an employer-sponsored retirement plan for small businesses. For questions about conventional IRAs, use the tag "ira" instead.

0
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0answers
24 views

My personal contribution to SIMPLE as an owner

Can I make my personal contribution, as an owner, right up until by tax filing deadline since I wont really know what I made until then?
3
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0answers
45 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 ...
5
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1answer
314 views

Can I make a lump-sum contribution to a SIMPLE IRA?

My employer offers a SIMPLE IRA plan to which I can contribute 3% of my salary. My employer contributes a 3% match. The employee contribution limit of $12,500 is far higher than the 3% amount I will ...
2
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3answers
233 views

Roth or Traditional IRA?

Here's the short and quick: I am 35, plan to work for 30 more years. Will most likely stay in 25% tax bracket, even after retirement. I can contribute around $460 per month currently into an IRA. My ...
1
vote
1answer
604 views

What are my options for leaving a job with a Simple IRA within the 2-year period?

I have a Simple IRA through my employer that currently has ~$3,000 in it. While this account was opened over two years ago, my understanding is that the 2-year period for SIMPLEs starts with the first ...
1
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1answer
47 views

Defined Contribution Plan - Are IRA Contributions Included in the Yearly Elective Deferral Limits?

I am under the assumption that the elective deferral limit for defined contribution plans (including Simple IRAs and 401ks) is $18,000. IRAs have a separate $5,500 limit. Does the $18,000 limit ...
3
votes
1answer
161 views

Can funds from a SIMPLE IRA be rolled over to a new custodian while still keeping the original account?

I contribute to a SIMPLE IRA through my employer. However, I am currently unhappy with my investment choices there. Is it possible to roll over some of the funds from my SIMPLE IRA to another vendor,...
4
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2answers
180 views

SIMPLE-IRA - Can multiple S-Corporations contribute to the same account?

I recently set up a SIMPLE-IRA account at an online brokerage. I have two S-Corps that pay out SIMPLE-IRAs to its employees. Can I distribute money from both S-Corps to the same SIMPLE-IRA account ...
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2answers
66 views

Medical Bills and IRA Distributions

From my research I think we have unknowingly and accidentally screwed ourselves here, but I would like to ask to confirm. Oct 2015: Our son needed emergency surgery when we were traveling in Panama ...
1
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0answers
40 views

Do matching contributions under SIMPLE IRA apply to IRS 93-27 and 2001-43 distributions

A SIMPLE IRA is set up which includes 3% matching contributions. An employee receives money through payments which are under IRS 93-27 and 2001-43 guidelines. The payments are sort of like owning ...
2
votes
1answer
293 views

How can I make a SIMPLE IRA employee contribution for 2014 in March 2015?

I work at a startup of two people. We have a SIMPLE-IRA retirement plan where we each contribute a fixed amount of money per paycheck to said account. Additionally the company matches dollar for ...
6
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5answers
881 views

Where do I invest my Roth IRA besides stock market and mutual funds?

I'm 25, I've invested most of my Roth IRA in the stock market, and have recently moved money to a peer to peer lending account for better compound interest returns. Where else should I consider ...
0
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1answer
115 views

Simple IRA Non-elective Contributions and Maximum 401k Employee contributions?

Person is an employee and is self-employed. Person has maxed out annual 401k contributions at employer's company. Can this person receive Simple IRA 2% annual nonelective contributions from second ...
1
vote
1answer
1k views

Penalties for cashing out on a SIMPLE IRA early

I want to know what are the penalties that an individual will face if they withdraw on a SIMPLE IRA outside of a hardship distribution? (Additionally) I noticed in another post someone mentioned a '2-...
8
votes
3answers
29k views

If I have a Simple IRA can I also contribute to a Traditional IRA and/or Roth IRA?

I have a Traditional IRA and a Roth IRA. This year my company introduced a Simple IRA. As long the contributions to the Traditional+Roth are below the yearly limit, can I contribute to all three ...
10
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3answers
191 views

Matching but no investing, or investing but no matching?

(This is a simplified version of an earlier question I posted - I want to try to get back to basics so I can understand the principles involved in my decision) Given the following two options: ...
9
votes
1answer
3k views

Options for a Simple IRA when leaving a job: Leave as is or roll it over?

I currently have a Roth IRA that I max out every year. My current company had Simple IRA and contributed 2% of my salary and I contributed 6000 a year. Now I am leaving the company and was hired by ...