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Lev; I have an S Corp and it contributes to my SEP IRA. I
Hi Lev; I have an S Corp and it contributes to my SEP IRA. I have one part time employee and understand I need to make the same percentage contribution to a retirement plan for him, as I do for myself… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,320 satisfied customers
I am self-employed (sole). I am about to open a new IRA
Hi, I am self-employed (sole). I am about to open a new IRA account (Self Employed IRA), but not sure which one would be optimal for my situation (SEP, Solo 401(k) or SIMPLE IRA). Here is one major va… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,621 satisfied customers
I also have question about retirement account such as SEP.
I also have question about retirement account such as SEP. Can S corp make contribution to SEP or pass through individual make SEP contribution on Schedule K-1?… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,320 satisfied customers
I HAVE A S CORP WITH SEP CONTRIBUTIONS FOR ONE EMPLOYEE
I HAVE A S CORP WITH SEP CONTRIBUTIONS FOR ONE EMPLOYEE SHAREHOLDER OF 20 PER CENT WHERE DO I REPORT ON W-2 AND W-3 … read more
Charles Markham
Charles Markham
Principal
Masters Science Taxation
755 satisfied customers
I have an s-corp, how much can i contribute for tax year
Hi I have an s-corp, how much can i contribute for tax year 2017? Also, i have seceral iras and learned the hard way that a sepIra was bad advice from my accountant! simple IRA or traditional? … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,320 satisfied customers
My husband has a consulting LLC but he has an S corp set up
My husband has a consulting LLC but he has an S corp set up for tax purposes. My question is, since he pays himself a salary from the S Corp is that considered self employment income and I need to fil… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,637 satisfied customers
I AM TRYING TO CALCULATE MY CONTRIBUTION LIMIT, I HAVE A S
I AM TRYING TO CALCULATE MY CONTRIBUTION LIMIT, I HAVE A S CORP AND RECIEVED A W2 AS WELL AND I THE ONLY EMPLOYEE AND OWNER AND MY TOTAL INCOME (K1 AND WAGES ) TOTAL 295200 … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,320 satisfied customers
I, as an employer, have been contributing to two employees
I, as an employer, have been contributing to two employees IRA accounts (quarterly) in addition to their salary. I have been reporting their salary through my payroll software and sending them paystub… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,621 satisfied customers
I own an S corp with seven employees and want to set up a
I own an S corp with seven employees and want to set up a SEP IRA. It is my understanding from the IRS website that I can't do that since SEPs are only allowed for sole proprietors. Is that right?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I own and am the only employee of an s-corp. Is there a way
I own and am the only employee of an s-corp. Is there a way that would benefit my bot***** *****ne more financially if I set something up through the company or am I ok just doing something tax-free o… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,621 satisfied customers
I am a S-corp 100% owner. May I set Sep IRA and contribute
I am a S-corp 100% owner. May I set Sep IRA and contribute for myself and at the same time set traditional IRA for myself and my husband? Is the traditional IRA fully deductible if I have SEP IRA? My … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
, Can I set up a SEP plan and contribute 25% of profit
Hi, Can I set up a SEP plan and contribute 25% of profit from Schedule C. (I did not take any salary from the self employment though). I'm making estiomated taxc payments on the assumed profits, but n… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
hello. Im an independent contractor on 1099 since aug 2014. From
hello. Im an independent contractor on 1099 since aug 2014. From January to July 2014 I was under W2 . During January 2014 I had opened a back door IRA (from my personal account converted a traditiona… read more
Anne
Anne
Master Tax Preparer
2,361 satisfied customers
I am in the process of filing my 2012 1120 S corp return (on
I am in the process of filing my 2012 1120 S corp return (on extension). I will have a profit on the S Corp return that will pass to me on Sch K that will cause me a tax liability on my personal 1040.… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
As a self-employed individual who gets paid in 1099s as well
As a self-employed individual who gets paid in 1099s as well as W2s, I'm trying to figure out what retirement plans are best for me when some years I get a lot of 1099 income and some years not much a… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,621 satisfied customers
I own a small business where Im the sole employee drawing a
I own a small business where Im the sole employee drawing a salary and filing as an S CORP. What type IRA can I set up through my company to enable me to save money while gaining a deduction off my ne… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
3,104 satisfied customers
I have $70,000 in savings (non-retirement) that I would like
I have $70,000 in savings (non-retirement) that I would like to transfer to a retirement account. I didn't put anything this year into my SEP IRA. I only made $10,000 this year. My wife made about $80… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,621 satisfied customers
My wife works for a small non-profit. They recently dissolved
My wife works for a small non-profit. They recently dissolved their relationship with the 403(b) provier (Wells Fargo Funds)and are now having employees direct her own retiremnt plan. We exceed the in… read more
Bill
Bill
Master's Degree
3,132 satisfied customers
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