LEARN MORE www.sfgacquisitions.com/irainforeports - get the Top 8 IRA Account Types and How It Is Used - Slideshare Traditional IRA A self-directed Traditional IRA may be opened by any individual with earned income. Cash is contributed into a Traditional IRA “pre-tax,” meaning the contribution is taken as a tax-deduction from earned income for that tax year. Roth IRA Cash is contributed to a Roth IRA “post-tax,” which means contributions are made with taxable earnings for that tax year. Because Roth contributions are taxed when they enter the account, it may be beneficial to open a Roth IRA account when your anticipated yearly income is going to be less, and therefore your tax bracket is lower. SEP IRA Simplified Employee Pension (SEP) IRAs are a popular employer plan for self-employed individuals. A SEP IRA allows you to choose the percentage of contribution for any given year (0-25% of earned income) for yourself and your staff. SIMPLE IRA The Savings Incentive Matc...
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)