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I have a couple clients that are interested to contribute to
I have a young couple clients that are interested to contribute to traditional IRA for the year 2017. In the earlier part of the year, one of the couples was participating in the employer retirement p… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
We are both over 60, working. My spouse was self employed
We are both over 60, working. My spouse was self employed for a local company as a consultant from Jan 1, 2017 to 11/30/2017, then hired 12/1/2017 as a full time employee. I work as a Federal employee… read more
Barbara
Barbara
Enrolled Agent, Paralegal
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ROTH Conversion *MFJ taxpayers *One spouse works and
ROTH Conversion*MFJ taxpayers *One spouse works and participates in a retirement plan *AGI is over $ 200KThey both put $ 5500K into a Traditional IRA - non deductible. Then they converted the money in… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
If employee salary $70,000 and S corp make SEP contribution
If employee salary $70,000 and S corp make SEP contribution $10,000 before S corp tax year end, if SEP account allow other type traditional IRA, how much does employee (age 50+) make non-SEP IRA contr… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
If my schedule c business made 250,000 profit how much can I
If my schedule c business made 250,000 profit how much can I contribute to a SEP?My spouse works but isnt covered by a work place retirement plan. Can she contribute to a traditional IRA? Our total in… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Traditional IRA contribution - *Married taxpayers file MFJ
Traditional IRA contribution -*Married taxpayers file MFJ *One spouse covered by retirement plan, one is not *AGI will be over $ 200K for 2017 *Taxpayer that is not covered by retirement plan, contrib… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
CERTIFIED FINANCIAL PLANNER ®, Professional
Master's Degree
2,982 satisfied customers
A taxpayer who is over 70.5 & is taking an RMD would like to
A taxpayer who is over 70.5 & is taking an RMD would like to fund his Roth IRA. He is still employed by an S Corporation of which he is a 50% stockholder & files a joint return with his spouse, who is… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 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
30,494 satisfied customers
If both spouses work, but only 1 employer offers 401k, can
If both spouses work, but only 1 employer offers 401k, can that spouse contribute $36k? How can we maximize our retirement contributions and reduce our taxable income if we make $240k?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
Do you have to have earned income of 5,500 to make the
Do you have to have earned income of 5,500 to make the maximum contribution to a Roth IRA if under age 50?… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
4,218 satisfied customers
Since I retired in 2014 I have been receiving a monthly
Since I retired in 2014 I have been receiving a monthly retirement annuity. In addition, I do contract work that I have been paying estimated taxes on. I'm making between $3000-$5000 per month (except… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
If I had side income in addition to a regular job and want
In 2012 I had a side self-employment income in addition to my regular job and want to maximize retirement contributions. I am 50 and have contributed the maximum to my 401(K) at work, including catch-… read more
PDtax
PDtax
Owner
Master's Degree
9,538 satisfied customers
I just took a retirement package from a major corporation. I
I just took a retirement package from a major corporation. I paid almost $93K in Federal taxes and $33K in California taxes. Do you know of any safe investments, such as oil drilling, etc., where I co… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
My wife and I run an LLC, where she primarily runs the business.
My wife and I run an LLC, where she primarily runs the business. We both take no salary and have not received a distribution of profits, with the exception of $7,000 put into an SEP-IRA account for my… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
My wife works 2 days a week as an employee and also 2 days
My wife works 2 days a week as an employee and also 2 days a week as an independent contractor (1099) and files a schedule C for this independent work. Can she make deductible contributions to both a … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
How much money can I place, tax free, in a traditional IRA
How much money can I place, tax free, in a traditional IRA if my 2009 income was $174,000?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
i just file my taxes after all deduction my taxable ...
i just file my taxes after all deduction my taxable income is around 69000 and i am self employ. my accountant told me i have to pay around 13000 for federal and 2500 for nc state tax is that sound ab… read more
Bill
Bill
Master's Degree
2,074 satisfied customers
even though I contribute to a pension plan, can I ...
even though I contribute to a pension plan, can I still contribute to and receive a tax write off for a traditional IRA or a Roth Ira. I am 60 yrs old and have an adjusted gross income of 115K… read more
Bill
Bill
Master's Degree
2,074 satisfied customers
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