Finance

Have finance questions? Ask a financial expert online.

Connect one-on-one with {0} who will answer your question

Related Finance Questions
I am thinking of making a contribution to my IRA, but when I
I am thinking of making a contribution to my IRA, but when I added this to my tax return in turbo tax, it increased my federal tax. Why is that? … read more
NelsonProTax
NelsonProTax
Remote Tax Support Expert
Master's Degree
2,772 satisfied customers
We are a husband-and-wife 50/50 shareholders in our S-Corp.
Hi, We are a husband-and-wife 50/50 shareholders in our S-Corp. We have a solo 401K which we have contributed the maximum for 2020 in salary deferrals ($56,000 as we are over 50 years old) plus employ… read more
NelsonProTax
NelsonProTax
Remote Tax Support Expert
Master's Degree
2,772 satisfied customers
I'd like to put more into a retirement account than the
I'd like to put more into a retirement account than the current individual contribution limits. I have an LLC that's taxed as an S-Corp, can I set up a SEP-IRA? Or what are other tax-advantaged option… read more
JeffS6413
JeffS6413
Master's Degree
2,743 satisfied customers
Self-employed (sole proprietor) with a solo 401k and a Roth
Self-employed (sole proprietor) with a solo 401k and a Roth IRA. My husband is employed and also has a Roth IRA and participates in employer 401k. My self employment income is only $20k this year and … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,465 satisfied customers
For LEV only If I take out 100 K from 401(k) and I claim 33%
For LEV only If I take out 100 K from 401(k) and I claim 33% income for this year, can I contribute up to 25% of it +25% of my 50k salary from my S Corp. into my SEP IRA?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,072 satisfied customers
DO NOT CLOSE SECOND OPINION) As an additional related
DO NOT CLOSE SECOND OPINION) As an additional related question if you don't mind - my wife works with me and we each contribute to the Solo 401(k) plan, as well as to our Roth IRAs. I understand that … read more
JeffS6413
JeffS6413
Master's Degree
2,743 satisfied customers
We are a husband-and-wife S Corp in our first year. We need
We are a husband-and-wife S Corp in our first year. We need to set up a 401K. We have a financial adviser who handles our investments (our Seps) and he says he can set up a 401K with a similar portfol… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,072 satisfied customers
I am 55 years old with an S-corp where I draw a salary. Am I
I am 55 years old with an S-corp where I draw a salary. Am I allowed to contribute to a 401K AND an IRA? If yes, what are the contribution limits to the IRA if I am contributing the max to the 401K?… read more
PDtax
PDtax
Owner
Master's Degree
6,552 satisfied customers
My question is related to 401k, SEP IRA and "" Roth IRA. At
My question is related to 401k, SEP IRA and "backdoor" Roth IRA. At this time I am self-employed and my s-corp is in TX. I live in GA. My My questions are below: 1. My total Income (my income + my wif… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,563 satisfied customers
Lane, We've discussed this before some but I'm still kind of
Hi Lane,We've discussed this before some but I'm still kind of confused, if you're available for a chat that would be preferable. Questions about KPERS, 457, plus solo 401k with roth contributions. Th… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,465 satisfied customers
I want to set up a retirement account and need help figuring
I want to set up a retirement account and need help figuring out which one is best for me. I'm self employed and want to have control over my account. I'd be investing mainly in index funds. I'm 32 ye… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,563 satisfied customers
Small, consulting LLC, husband and wife, selected "S" corp
Small, consulting LLC, husband and wife, selected "S" corp for taxes. Set up a Solo 401k with TD. plan allows for Pre-tax, Roth, After Tax and Employer Electives. … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,072 satisfied customers
I have a question about optimizing our tax planning using a
I have a question about optimizing our tax planning using a solo 401k plan for my wife's law practice (solo practitioner in California) for 2018. Namely, is it worth setting up an S corp instead of th… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,072 satisfied customers
Questions on 401K contribution limits of employers: I have
Questions on 401K contribution limits of employers:I have small S-corp in Texas. It is 100% owned by me and I am also employee of the company. There are only two employees: myself (owner/employee) and… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
3,228 satisfied customers
Thanks Lane. I really appreciate it on the last question.
Thanks Lane. I really appreciate it on the last question. One last thing on the 401k with the pension plan. Lets say the pension plan is in a business along with the 401k being a company plan. With bo… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,465 satisfied customers
Lane and I hope all is well. I converted a number of 100%
Hi Lane and I hope all is well. I converted a number of 100% owned LLC's to S Corp's in 2014. My question is what to do with their SEP's they have in place. This is not my arena so I wanted to ask you… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,465 satisfied customers
Dear CPA, I have 3 ice cream stores under separate S corporations
Dear CPA, I have 3 ice cream stores under separate S corporations in California. I get $2k monthly from each store/s corp. 1). How much can I contribute by opening an SEP IRA account? I am planning to… read more
Rakhi Vasavada
Rakhi Vasavada
Financial and Legal Consultant
Bachelor's Degree
2,614 satisfied customers
401k Limits - I have two jobs both pay about 80k per year.
401k Limits - I have two jobs both pay about 80k per year. Each job allows a max 401K contribution of %25 of your yearly income. Both job s are unrelated and employee based as in I have no vested inte… read more
Rakhi Vasavada
Rakhi Vasavada
Financial and Legal Consultant
Bachelor's Degree
2,614 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Rakhi Vasavada

Rakhi Vasavada

Financial and Legal Consultant

2,614 satisfied customers

Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years

Manal Elkhoshkhany

Manal Elkhoshkhany

Tutor

2,305 satisfied customers

More than 5000 online tutoring sessions.

Megan C

Megan C

Certified Public Accountant (CPA)

2,225 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

JKCPA

JKCPA

CPA

844 satisfied customers

Bachelors degree and CPA with Accounting experience.

Dave CPA

Dave CPA

Accountant

231 satisfied customers

I'm a CPA with over 10 years of experience

ConceptsCoach

ConceptsCoach

Certified Public Accountant (CPA)

171 satisfied customers

Chartered Accountant and MBA

sgriffin26

sgriffin26

Loan Officer

93 satisfied customers

Licensed RE Agent, Loan Officer, and NMLO. I have been in residential lending for over 10 years.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x