Timothy Sumer

In this video, I delve into the newly introduced Roth SEP IRA in 2023 and compare it with other retirement plans like the solo 401K. If you're considering the Roth SEP IRA, you'll want to understand the limitations, potential tax consequences, and why it might not be the best option for you. Join me as I break down the complexities and offer insights that could save you time and money in planning your retirement. Feel free to drop your questions in the comments below, and don't forget to subscribe for more financial guidance! ///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: Chat on discord: Join Link Support on Patreon: Get IRS FORM W4 TAX WITHHOLDING HELP HERE STARTING AT $39. bit.ly/3FJ6w8U ----------------------------------------------------- Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to you...

#shorts #smallbusinessowner #2023 One of my 10 Year End Financial Planning Tips. What in my opinion might be the best retirement account for small business owners, the Solo 401(k). But to fund an employee deferral, one must be opened by Dec. 31. Check out my handy calculator to find out which retirement plan is best for your small business. Here is why the Solo 401(k) may be better than the SEP IRA. ⬇️ DISCLAIMER : Celestial Wealth Management, LLC is registered as an investment adviser in the State of Maryland and Texas. Neither the information nor any opinion constitutes an offer or an invitation to make an offer, to buy or sell any securities or other financial instruments. This video is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person. Investors should seek financial advice regarding the appropriateness of inv...

For more information and a free Gold Guide : What Is SEP IRA: Differences with other investments Here are some differences about “What Is SEP IRA” compared to other investments. Differences. Eligibility: A SEP IRA is primarily intended for self-employed individuals and small business owners. while other types of investments, such as individual stocks or mutual funds, can be purchased by anyone. Contributions: SEP IRA contributions are made by the employer, while contributions to other types of investments are usually made by the individual. Contribution limits: The contribution limits for SEP IRA are higher than for traditional IRA, but lower than for a Solo 401(k) plan. Taxation: Contributions to a SEP IRA are made pre-tax, while withdrawals in retirement are taxed as ordinary income. Other types of investments, such as Roth IRA, have different tax rules. Investment options: SEP IRA usually have limited investment options, typically just mutual funds or ETFs. while oth...

For more information and a free Gold Guide : What Is SEP IRA? You have savings and you have heard about an IRA, but which IRA do you need? Maybe you have some questions like “What is SEP IRA?“. We will give answers. A Simplified Employee Pension Individual retirement account . A SEP IRA is a type of retirement savings plan that is designed for small business owners and self-employed individuals. It allows them to make tax-deductible contributions to traditional IRA accounts for themselves and their employees. SEP IRA contributions are made by the employer, and the employer’s contribution limit is generally much higher than that of other types of retirement plans such as a Traditional IRA or a Roth IRA. Employers can contribute up to 25% of an employee’s compensation or a maximum of $58,000 for the year 2021 and $58,700 for the year 2022. One of the main advantages of a SEP IRA is that it is relatively easy to set up and maintain. There are few administrative requirements...

In this video I want to share sep ira explained for Self Employed 2019. The SEP IRA is like the third child in the family and tends to get overlooked. Self employed investors should really consider the sep ira. There are huge advantages to retirement investing with a SEP IRA and in today's video I will cover a few of them. CLICK HERE TO GRAB MY CREDIT REPAIR CHEATSHEET ➡️➡️➡️ ▶︎▶︎SUBSCRIBE TO MY YT CHANNEL➡️➡️➡️ Connect with Me On Facebook ➡️➡️➡️ Instagram➡️➡️➡️ Email: youdeservetowin@gmail.com If you liked the video hit like and subscribe for more! Thanks for watching! Share the video: Sabrina Wright ★☆★ SUBSCRIBE TO ME ON YOUTUBE: ★☆★ SUBSCRIBE ► DISCLAIMER: This video and description may contain affiliate links, which means that if you click on one of the product links,...

Is the SEP IRA the best retirement plan for small business owners? Let's take a look at the rules and regulations of the SEP IRA to help you figure out if this is the right retirement plan for you. 0:00 Intro 0:35 Setup Process 0:57 IRS form 5305-SEP 1:04 SEP IRA Employee Eligibility Requirements 2:34 IRS form 5498 2:54 Contribution Limits 3:38 Catch-Up Contributions 4:08 Investment Options 4:48 Traditional IRA and Roth IRA income limits 7:02 SEP IRA contribution formula 9:15 Contribution rates Publication 560 10:41 Roth IRA + SEP IRA 13:58 Is the SEP IRA the retirement plan for you? ///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: Chat on discord: Join Link Support on Patreon: ----------------------------------------------------- Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. S...

WHEN TO USE A TRADITIONAL IRA When should you use a traditional IRA? A Traditional IRA is more appropriate for people who will be in a zero or very low tax bracket when they retire. They get the benefit of the tax deduction upon contribution and no taxes upon withdrawal. If you do not foresee the need to draw on your IRA in retirement then you will also want to fund a Roth IRA. SUBSCRIBE - II FINANCIAL PLANT II... ( read more ) LEARN MORE ABOUT: IRA Accounts INVESTING IN A GOLD IRA: Gold IRA Account INVESTING IN A SILVER IRA: Silver IRA Account REVEALED: Best Gold Backed IRA When it comes to retirement planning , a traditional individual retirement account (IRA) is one of the most popular options. A traditional IRA is an account that allows you to save for retirement on a tax-deferred basis. This means that you don’t have to pay taxes on the money you contribute to the account until you withdraw it in retirement. A traditional IRA can be a goo...

In this video, I'm talking about the SEP IRA and Roth IRA together to help you save more and lower your taxes. Using multiple retirement plans together can get a little more complicated and I'm sharing what I would want to know about these two plans. 00:00 Intro SEP IRA + Roth IRA 00:55 Who should consider the SEP IRA? 01:26 Who should consider the Roth IRA? 2:00 SEP IRA Contribution and Income Limits 2:44 Roth IRA Contribution and Income Limits 5:05 SEP IRA contribution calculation 6:29 S-Corporations and the SEP IRA 7:33 Backdoor Roth IRA contributions 8:28 IRS Publication 560 8:56 SEP IRA Contribution Rate Sheet 10:00 IRS Publication 590-a 10:20 MAGI for Roth IRA worksheet 10:55 Publication 590-b 11:19 Retirement Plan Rollover Chart 11:55 Issue #1 14:23 Issue #2 14:32 Issue #3 17:00 Issue #4 ///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: ----------------------------------------------------- ...

In this video I will explain how to put more money into a qualified retirement plan to help lower your taxes if you are Self Employed. In some situations you may be in a position to put more than $7,000 away for retirement planning . With a SEP IRA Plan you can contribute more while helping to save money on your taxes.... ( read more ) LEARN MORE ABOUT: Qualified Retirement Plans REVEALED: How To Invest During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing https://inflationprotection.org/sep-ira-plan-basics-self-employed-retirement-planning/?feed_id=39362&_unique_id=637217d6025f3 #Inflation #Retirement #GoldIRA #Wealth #Investing #retirementplanning #selfemployedretirement #SelfEmployedTaxPlanning #selfemployedtaxes #sepira #sepiraexplained #simplifiedemployeepensionplan #TaxPlanning #QualifiedRetirementPlan #retirementplanning #selfemployedretirement #SelfEmployedTaxPlanning #selfemploye...