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Thank you in advance for any help! Background: I am a
Hello and thank you in advance for any help!Background: I am a self-employed sole proprietor (no employees) with estimated net profit of $115,000 for 2018 and am looking to maximize my tax-deferred sa… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
I am an employee ( w2) and also a self employed. I want to
Hi , I am an employee ( w2) and also a self employed. I want to find out how much I can contribute to my sep IRA in 2017.On my w2 employment I have a 401k plan and I contributed 5k in 2017 ( through m… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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I have a question about enrolling in a SEP IRA, no, no
I have a question about enrolling in a SEP IRA JA: Have you talked to a tax professional about this? Customer: no JA: Anything else you want the Accountant to know before I connect you? Customer: no… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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My daughter makes over 200K /yr and I've sugested a SEP IRA
My daughter makes over 200K /yr and I've sugested a SEP IRA because I read she could place up to 54K ,write that of due to deferred status. … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
8,394 satisfied customers
2016 retirement contributions Husband gross W-2 $190k,
2016 retirement contributions Husband gross W-2 $190k, covered by 403b Wife $10k net from schedule C; no W-2 What are our options for contributions? IRA SEP Can we choose Roth or not for each/either? … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
I work for the VA, directly thru the VA (not thru a locums
I work for the VA, directly thru the VA (not thru a locums or 3rd party). I get paid per hour anywhere from 0-60 hours a week as desired. I am considered "Fee basis." Despite this, I receive a W2 from… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
8,394 satisfied customers
I have a small (side) business through which I have a SEP
I have a small (side) business through which I have a SEP IRA. I also am employed full time.It has come to my attention this year that I may have been contributing too much to my SEP IRA last year.Las… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
I am a self employed 1099-MISC income earner and contribute
I am a self employed 1099-MISC income earner and contribute to an IRA each year. I am 57 and my wife is 48. My wife went back to work this year in September. She is a part time teacher and earns a sma… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
I'm self-employed and put the maximum into my SEP each year,
Hi, I'm self-employed and put the maximum into my SEP each year, and into a Roth IRA, too. If I also add money into an HSA, does that contribution reduce my federal taxes for the year? Would it also r… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
8,394 satisfied customers
I retire in December of 2015. In January 2016 I received a
I retire in December of 2015. In January 2016 I received a check for vacation pay from which was deducted my customary retirement contribution with employer contribution). I am now self-employed as a … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
8,394 satisfied customers
I am paid a guaranteed payment income as a working member
I am paid a guaranteed payment income as a working member of the LLC. 3 questions 1. Are Guaranteed payments taxed as normal income or are they subject to the 15.3 SE Tax 2. Can I contribute to a SEP … read more
Jonathan Tierney
Jonathan Tierney
MBA
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I was self employed of last year. The remainder of
I was self employed for half of last year. The remainder of the year I was employed by another company. I had been self employed for two years prior and during this time, opened a SEP 401K. Can I take… read more
Robin D.
Robin D.
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I am self-employed. I would like to verify tax deduction
I am self-employed. I would like to verify tax deduction for self-employed retirement plans. For the 2014 tax year, you could feasibly contribute as much as $17,500 in deferred salary ($23,000 if you'… read more
Lev
Lev
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Bachelor's Degree Equivalent
30,512 satisfied customers
I am self-employed 1099 by hour and half years now as an IT
I am self-employed 1099 by hour for 2 and half years now as an IT consultant. I want to lower my 2015 taxable income by opening a sep IRA with etrade. Am I eligible for sep-IRA deduction for 2015, if … read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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there! I am the sole owner of an S-corp, and I have a
Hello there! I am the sole owner of an S-corp, and I have a SEP IRA. I took W2 wages of 144k in 2014, along with other cash draw distributions. I need to figure out: 1 - How much can the S-corp contri… read more
ShawnA
ShawnA
CEO
Bachelor's Degree
4,726 satisfied customers
SEP IRA for Independent Contractor on W2- -----------------------------------------------
SEP IRA for Independent Contractor on W2- ---------------------------------------------------- Hello, my wife is an independent contractor. She gets a W2 from the consulting agency. She does not have … read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
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What if you had two tax deferred accounts a sep ira to which
What if you had two tax deferred accounts: a sep ira to which you had excess contributions and an employer sponsored (401k or 457?) that you contributed much less than the limit. do you owe tax on the… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
Sold my business in Feb. 08. Did maintain my corp. entity (S-corp)
Sold my business in Feb. 08. Did maintain my corp. entity (S-corp) and have been an independent contractor for another company since June 2008. Had a simple IRA with 3% employer match at my previous b… read more
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Ed Johnson
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