2 results for tag: SEP-IRA
Use In-Kind RMDs to Avoid Selling Your Retirement Account Assets
The stock market isn't doing so great these days. While a number of factors have played a role in this year's bear market (2022), skyrocketing inflation — the highest in over 40 years — and aggressively rising interest rates, have combined to drive share prices down in most sectors. It’s down nearly 20 percent year to date.
And, Bonds haven’t done so well either... And the IRS doesn’t seem to care.
If you’re 73 or older, you still have to take your annual RMD (Required Minimum Distribution) from your traditional IRA, SEP-IRA, or SIMPLE IRA by the end of the year. (RMDs are not required for Roth IRAs so long as the account holder is ...
SEP-IRA vs Solo 401(k): Which Should You Choose?
Parts of this article are published with permission from Bradford Tax Institute, © 2022 Daniel Morris, Morris + D’Angelo
One way to multiply your net worth is to let the government help.
Hereʼs How: With both the SEP IRA and the solo 401(k) retirement plans, your investment in your tax-favored retirement
Creates tax deductions for the money you invest in the plan,
Grows tax-deferred inside the plan, and
Suffers taxes only when you take the money from the plan.
Example: You invest $1,000 a month in your retirement. You are in the 40 percent tax bracket (combined federal and state), and you earn 10 percent on your investments. At the ...