SEP IRA OVERVIEW & FAQ What is a SEP IRA? A SEP IRA stands for Simplified Employee Pension and is an individual retirement account for business owners and self-employed individuals. You can think of it as a traditional IRA, but supercharged with higher contribution limits. Employers can contribute to their own accounts, as well as make contributions for […]
What is a tax deduction? A tax deduction is a way to reduce the amount of money you have to pay in taxes. It’s like a special discount that the government gives you when you spend money on certain things. When you spend money on tax deductible expenses, you subtract that amount from your total […]
Capital gains are generally taxed as ordinary income by the IRS, although the tax rate on capital gains can be lower than the tax rate on ordinary income, depending on the circumstances and the jurisdiction. The holding time of a capital asset affects the tax rate applied to any capital gains realized from its sale. […]
OVERVIEW A rollover is the fastest, most effective way to fund your solo 401k account. You’re allowed to rollover funds from almost any retirement account, and there are no limits on how much you can rollover. If you’re considering a solo 401k rollover, let’s go through how it works and why you should consider one. […]
Alternative investments (also referred to as alternative assets) are any asset classes that aren’t stocks, bonds, or cash. In this article, we’ll look at what alternative investments are, the different types of alternative assets, characteristics and how they differ from traditional investments, and the risks and rewards of investing in them. Characteristics of alternative assets […]
Investing in real estate with a Roth IRA is possible (and completely legal). However, you need a special kind of Roth IRA, the self-directed IRA (SDIRA). While your investment options are limited to only traditional assets with a regular IRA, a self-directed Roth IRA opens the door to alternative assets like crypto, NFTs, private equity, […]
A SEP IRA (Simplified Employee Pension) is an individual retirement plan for business owners with or without employees. Employees can contribute up to $61,000 for 2022 or $66,000 for 2023. Contributions are made with pre-tax income and are tax deductible and tax deferred until you take qualified distributions in retirement. With a regular SEP IRA, […]
Many employers will opt to offer their employees retirement benefits through a SIMPLE IRA (Savings Incentive Match Plan for Employees) rather than a 401k plan. A SIMPLE IRA is much easier to set up, is less expensive, and requires less maintenance than a 401k. If you’re an employee who receives a SIMPLE IRA from your […]
If you’re looking to purchase a home, and have funds invested in a 401k plan that you’d like to use as a downpayment, here are all the different options you can take, and important factors to consider before making a final decision. Can I use my 401k to purchase a home? Some retirement plans, like […]
