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

How to fund your retirement and lower your taxes at the same time using a SEP-IRA on a Schedule C. Purchase Iraqi Dinars: The US Gov has over $30 Billion IQD IRS.gov This video is for one-person startups with a link explaining employee SEP-IRAs. Contributions an employer can make to an employee's SEP-IRA cannot exceed the lesser of:25% of the employee's compensation, or $57,000 for 2020 ($56,000 for 2019) BUY IRAQI DINARS ... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA As entrepreneurs and self-employed individuals, it can be challenging to balance our earnings, business expenses, and retirement savings. However, using a Schedule C can help lower your taxes and fund your retirement simultaneously. Schedule C is a tax form used to report the income and expenses of a sole proprietorship or a business operated by an individ

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: -----------------------------------------------------