|
Posted by kyle on February 22, 2007, 5:26 pm
Please log in for more thread options
I am currently trying to decide how much of my earnings to
put into My SEP IRA. I would put the max, but we are
planning on building a house this year, and want to keep it
liquid. I also intend to convert the SEP to a Solo 401(k),
so increase contribution limits. Here is my question: Can
I just hold on to the $$ for now, pay the income taxes on
it, then contribute more next year if there is $$ left over?
This assumes I won't hit the limit for contribution.
Also, what would I have to do legally to allow my wife to
contribute the 15000K max to the solo(k). I assume she
would have to have some earned income. Is it as simple as
me paying her for some work via a 1099-Misc?
Regards,
Kyle Beck
<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>
| 
Yahoo! 
Google 
Windows Live 
del.icio.us 
digg 
Netscape 
XML Sitemap