| Author | Message | ||
     Rudraksha Junior Artist Username: Rudraksha Post Number: 506 Registered: 07-2012 Posted From: 70.181.57.58 Rating: N/A |
consultants ela open cheyali solo 401k?? | ||
| Rudraksha Junior Artist Username: Rudraksha Post Number: 505 Registered: 07-2012 Posted From: 70.181.57.58 Rating: N/A |
consultants own gaa open cheyavacha? | ||
| Thelegend Moderator Username: Thelegend Post Number: 21389 Registered: 04-2008 Rating: N/A |
cool mahalingam kurrod rocks | ||
| Maverick Legend Username: Maverick Post Number: 41878 Registered: 01-2008 Posted From: 72.37.249.148 Rating: N/A |
king, also i want to switch my cpa. my cpa is too busy to respond. kaasta details iste, i will talk to him for this years tax returns Who is this DB member? | ||
| Maverick Legend Username: Maverick Post Number: 41877 Registered: 01-2008 Posted From: 72.37.249.148 Rating: N/A |
king, what did he clearly suggest. please email me..just want to see if there are more advantages than i know. bitnbyte gmail Who is this DB member? | ||
| King Side Hero Username: King Post Number: 4212 Registered: 08-2008 Posted From: 208.185.201.194 Rating: N/A |
Got the answer from CPA in detail..Solo 401K is good for me in my case Ashton - I'm living an Amish lifestyle. so far so good. | ||
| Maverick Legend Username: Maverick Post Number: 41871 Registered: 01-2008 Posted From: 70.39.176.60 Rating: N/A |
King To me, the most important difference is the contribution limits. The max for a SEP-IRA is up to 25% of compensation with a cap of $44,000 for 2006 (contribution calculator). On the other hand a Solo 401(k) allows profit sharing contributions of up to 25% of compensation plus tax-deductible salary deferrals to the plan of up to $15,000 for 2006. The cap is the same at $44,000. So while the caps are the same, you can make very little self-employed income and basically defer it all, which you can’t do with the SEP-IRA. This gives you that added flexibility which is especially beneficial for those who have some self-employed income as secondary income and want to get the most tax advantages. For example, if you made $15,000 of eligible compensation, you could sock all $15,000 of it away with a Self-Employed 401(k), but only $3,750 with a SEP-IRA. http://www.mymoneyblog.com/self-employed-solo-401k-vs-sep-ir a-basics.html Who is this DB member? | ||
| King Side Hero Username: King Post Number: 4211 Registered: 08-2008 Posted From: 208.185.201.194 Rating: N/A |
this wrong..25% of employee W2 Ashton - I'm living an Amish lifestyle. so far so good. | ||
| Maverick Legend Username: Maverick Post Number: 41870 Registered: 01-2008 Posted From: 70.39.176.60 Rating: N/A |
hero, that is for 401k, not sep ira Who is this DB member? | ||
| King Side Hero Username: King Post Number: 4210 Registered: 08-2008 Posted From: 208.185.201.194 Rating: N/A |
are you referring to SEP IRA. We need to take into consideration as both employee and employer. As employee, I contribute max 17K which is the limit As employer i can match 25% of pay roll combined max upto $49.5K So what is the benifit of SEP IRA Ashton - I'm living an Amish lifestyle. so far so good. | ||
| Hero Side Hero Username: Hero Post Number: 2765 Registered: 09-2009 Posted From: 108.65.110.4 Rating: N/A |
Wrong. SEP_IRA is always related to W2 amount of employee not related to profit. http://www.investopedia.com/university/retirementplans/sepir a/sepira2.asp#axzz2EfYKDtKj | ||
| Maverick Legend Username: Maverick Post Number: 41869 Registered: 01-2008 Posted From: 70.39.176.60 Rating: N/A |
and inko advantage of 401k, u can take loan. though not all providers offer this. fidelity doesn't offer now, since i dont have much time to research, i opened with fidelity..next yr i may move to a new provider who offers loans and roll over this to them. Who is this DB member? | ||
| Hero Side Hero Username: Hero Post Number: 2764 Registered: 09-2009 Posted From: 108.65.110.4 Rating: N/A |
The maximum contribution is 25% of compensation or $49,000, whichever is less. | ||
| Maverick Legend Username: Maverick Post Number: 41868 Registered: 01-2008 Posted From: 70.39.176.60 Rating: N/A |
>>25% of eligible compensation is $62k 25% of profit, not eligible compensation. straight out you can move 17K + 25% of profit. idi naaku telisindi. Who is this DB member? | ||
| Hero Side Hero Username: Hero Post Number: 2763 Registered: 09-2009 Posted From: 108.65.110.4 Rating: N/A |
It depends on W2 .. Salary of employee $250,000(W2) anukodam 25% of eligible compensation is $62k but u can contribute up to 50k only. if W2 salary is 100k.. u cant contribut 50k to SEP_IRA | ||
| King Side Hero Username: King Post Number: 4209 Registered: 08-2008 Posted From: 208.185.201.194 Rating: N/A |
will talk off line. Will send you mail Ashton - I'm living an Amish lifestyle. so far so good. | ||
| Maverick Legend Username: Maverick Post Number: 41867 Registered: 01-2008 Posted From: 70.39.176.60 Rating: N/A |
my cpa also suggested solo 401k in place of sep ira Who is this DB member? | ||
| Maverick Legend Username: Maverick Post Number: 41866 Registered: 01-2008 Posted From: 70.39.176.60 Rating: N/A |
>>did you open solo 401K or SEP IRA and why? opened solo 401k. read somewhere solo 401k is better than sep ira. solo 401k if u add an employee(say wife) both can contribute upto 98k. sep lo max 50k anukunta. i just kept my options open for this in future also. thoiugh she doesn't contribute any thing because she is working. Who is this DB member? | ||
| King Side Hero Username: King Post Number: 4208 Registered: 08-2008 Posted From: 208.185.201.194 Rating: N/A |
did you open solo 401K or SEP IRA and why? Ashton - I'm living an Amish lifestyle. so far so good. | ||
| Maverick Legend Username: Maverick Post Number: 41865 Registered: 01-2008 Posted From: 70.39.231.172 Rating: N/A |
King, nenu monnane open chesa fidelity lo..u can move as much as 50K to 401K..and if ur spouse is also an employee, together u can move upto 98K u need to open account before dec 31 and can fund it before u file taxes Who is this DB member? | ||
| Hero Side Hero Username: Hero Post Number: 2761 Registered: 09-2009 Posted From: 108.65.110.4 Rating: N/A |
10k gross salary per month ayithe..2.5k SEP_IRA lo deposit chesukovachu upto 50k limit per year | ||
| King Side Hero Username: King Post Number: 4207 Registered: 08-2008 Posted From: 208.185.201.194 Rating: N/A |
does this take into account as both employer and employee? I dont have anyone on my mayroll except myself. Ashton - I'm living an Amish lifestyle. so far so good. | ||
| Conquas Side Hero Username: Conquas Post Number: 5956 Registered: 11-2011 Posted From: 99.82.251.78 Rating: N/A |
in SEP IRA you can contribute upto 25% on your net income upto the cap.. $50000 read this link http://www.sepira.com/ its for self employed business without any employees.... individual 401k ki SEP IRA ki difference: http://www.sepira.com/sep-ira-vs-individual-401k.html mee company gurinchi mee CPA ki clear picture vundi vuntundhi.... andhuke.... meeku aa suggestion icchi vuntaru..... all opinions expressed here are mine.. | ||
| Thelegend Moderator Username: Thelegend Post Number: 21385 Registered: 04-2008 Rating: N/A |
yeah, just retirement planing ayite roth ira is also an option. Tax purpose ayite IRA saripotundemo? 401K ki unde extra adv/disadv sarigga idea ledu | ||
| King Side Hero Username: King Post Number: 4206 Registered: 08-2008 Posted From: 208.185.201.194 Rating: N/A |
hmm..can you guys kindly direct me in right direction. CPA solo 401K open chesi fund cheyamannadu Ashton - I'm living an Amish lifestyle. so far so good. | ||
| Andhrawala Hero Username: Andhrawala Post Number: 16571 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
It is called SEP-IRA u establish a certain percentage of the pay. u can buy stocks and whatever u want with that money No Signature | ||
| King Side Hero Username: King Post Number: 4205 Registered: 08-2008 Posted From: 208.185.201.194 Rating: N/A |
telidu , mana mahalingam cheyamani cheppadu. Roth ante after tax money kada.. Ashton - I'm living an Amish lifestyle. so far so good. | ||
| King Side Hero Username: King Post Number: 4204 Registered: 08-2008 Posted From: 208.185.201.194 Rating: N/A |
this is self employed (contracting for self LLC\corp). It will enable to contribute more as employee and employer which van go upto 50k/annum thus reducing your tax burden Ashton - I'm living an Amish lifestyle. so far so good. | ||
| Conquas Side Hero Username: Conquas Post Number: 5955 Registered: 11-2011 Posted From: 99.82.251.78 Rating: N/A |
if you are self employed.... you can open SEP IRA all opinions expressed here are mine.. | ||
| Mrhyderabad Side Hero Username: Mrhyderabad Post Number: 9717 Registered: 01-2008 Posted From: 98.221.83.18 Rating: N/A |
Open IRA Don't say you don't have enough time. You have exactly the same number of hours per day that were given to Helen Keller, Pasteur, Michaelangelo, Mother Teresea, Leonardo da Vinci, Thomas Jefferson, and Albert Einstein | ||
| Thelegend Moderator Username: Thelegend Post Number: 21384 Registered: 04-2008 Rating: N/A |
I feel the same King, sonthaga cheskunte 401K ne enduku? IRA, ROTH IRA cheskovachhu ga? | ||
| Andhrawala Hero Username: Andhrawala Post Number: 16569 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
OK. my employer has 401K plan. but he doesnt contribute a penny to it. I contribute atnd 15K to save on taxes No Signature | ||
| Idle_yzag Legend Username: Idle_yzag Post Number: 36726 Registered: 02-2008 Posted From: 198.80.144.187 Rating: N/A |
I dont know anna how to open this, but valla contribution lekunda aithe baaggaaaa bokka RahulGandhi/JP/Chiru | ||
| King Side Hero Username: King Post Number: 4203 Registered: 08-2008 Posted From: 208.185.201.194 Rating: N/A |
yes.. Ashton - I'm living an Amish lifestyle. so far so good. | ||
| Idle_yzag Legend Username: Idle_yzag Post Number: 36725 Registered: 02-2008 Posted From: 198.80.144.187 Rating: N/A |
ante? emplyer contribution lekundana? RahulGandhi/JP/Chiru | ||
| King Side Hero Username: King Post Number: 4202 Registered: 08-2008 Posted From: 208.185.201.194 Rating: N/A |
Solo 401K 101's kavali. Where to start and should i have check power or have it opened through fund managers? Ashton - I'm living an Amish lifestyle. so far so good. |
