Comments on: SEP IRA Contribution Question: AJ Answered http://www.debtfreeadventure.com/sep-ira-contribution-as-employer-employee/ Pay off debt. Save. Give. Live your mission. Wed, 08 Feb 2012 17:36:06 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: RL http://www.debtfreeadventure.com/sep-ira-contribution-as-employer-employee/#comment-15599 RL Tue, 12 Apr 2011 14:45:45 +0000 http://www.debtfreeadventure.com/?p=5490#comment-15599 I own an LLC and am the sole owner of the LLC however both my wife and I do the work and we are the only two that work in this LLC. My LLC does not make salary or 1099 payments to either of us. My question is if my LLC can contribute to an SEP for both me and my wife separately ? If the answer is yes then how would the contribution be calculated since there is no direct salary or 1099 payments made? I own an LLC and am the sole owner of the LLC however both my wife and I do the work and we are the only two that work in this LLC. My LLC does not make salary or 1099 payments to either of us. My question is if my LLC can contribute to an SEP for both me and my wife separately ? If the answer is yes then how would the contribution be calculated since there is no direct salary or 1099 payments made?

]]> By: Margaret http://www.debtfreeadventure.com/sep-ira-contribution-as-employer-employee/#comment-9132 Margaret Sat, 10 Apr 2010 04:06:14 +0000 http://www.debtfreeadventure.com/?p=5490#comment-9132 This year my employer decided to give us a bonus instead of making a SEP IRA contribution. He said this was on the advice of his accountant. Obviously it would have been to my advantage to have as this money would have grown tax deferred in my SEP IRA. What is the tax advantage to my employer? This year my employer decided to give us a bonus instead of making a SEP IRA contribution. He said this was on the advice of his accountant. Obviously it would have been to my advantage to have as this money would have grown tax deferred in my SEP IRA. What is the tax advantage to my employer?

]]> By: Matt Jabs http://www.debtfreeadventure.com/sep-ira-contribution-as-employer-employee/#comment-8412 Matt Jabs Mon, 08 Mar 2010 15:35:31 +0000 http://www.debtfreeadventure.com/?p=5490#comment-8412 After rereading the post I can see how the wording was confusing... I changed the last paragraph to be more clear. Thank you for pointing it out Bonnie. After rereading the post I can see how the wording was confusing… I changed the last paragraph to be more clear. Thank you for pointing it out Bonnie.

]]> By: Bonnie http://www.debtfreeadventure.com/sep-ira-contribution-as-employer-employee/#comment-8408 Bonnie Mon, 08 Mar 2010 09:47:40 +0000 http://www.debtfreeadventure.com/?p=5490#comment-8408 Huh? ALL SEP-IRA contributions are employer contributions. There are no employee contributions. Is AJ sure she doesn't have a Solo 401k? Maybe her brokerage was asking her whether she has employees for whom she needs to make a contribution. This post doesn't make sense. Huh? ALL SEP-IRA contributions are employer contributions. There are no employee contributions. Is AJ sure she doesn’t have a Solo 401k? Maybe her brokerage was asking her whether she has employees for whom she needs to make a contribution. This post doesn’t make sense.

]]> By: Mrs. Money http://www.debtfreeadventure.com/sep-ira-contribution-as-employer-employee/#comment-8284 Mrs. Money Wed, 03 Mar 2010 12:42:10 +0000 http://www.debtfreeadventure.com/?p=5490#comment-8284 I love when older people come in and ask to take money out of their "Ira." They don't say I.R.A., they say it like it's a person. I hadn't done much research about SEP IRAs. I think I'll stick with my 401k. Too much to keep track of otherwise. ;) I love when older people come in and ask to take money out of their “Ira.” They don’t say I.R.A., they say it like it’s a person.

I hadn’t done much research about SEP IRAs. I think I’ll stick with my 401k. Too much to keep track of otherwise. ;)

]]> By: Debt Free Dude http://www.debtfreeadventure.com/sep-ira-contribution-as-employer-employee/#comment-8283 Debt Free Dude Wed, 03 Mar 2010 12:13:02 +0000 http://www.debtfreeadventure.com/?p=5490#comment-8283 And don't forget that you can start rolling traditional IRAs over to Roth IRA if that fits better with your long term financial plan. As far as I know, there isn't a way you can contribute directly to a Roth IRA from the employer side of things. And don’t forget that you can start rolling traditional IRAs over to Roth IRA if that fits better with your long term financial plan. As far as I know, there isn’t a way you can contribute directly to a Roth IRA from the employer side of things.

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