Word: sep
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Dates: during 2000-2009
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GETTING STARTED. You can use money in a traditional IRA, Roth IRA or simplified employee pension plan (SEP-IRA) to buy land, condos, commercial real estate or residential properties. But you can't serve as the custodian of your IRA. IRA Resource Associates www.iraresource.com in Camas, Wash., can help you find a trustee or custodian who is knowledgeable about real estate investing...
...CONCERNS. You'll forgo some tax benefits associated with investing in real estate, says Islandia, N.Y., financial planner Michael Kresh. You usually can't deduct depreciation, and when you begin withdrawing money from a traditional IRA or SEP-IRA, those funds will be taxed as regular income. Since a Roth IRA lets you withdraw funds tax free after age 59 1/2, that may be your best option...
...plans also rise by $1,000 to $9,000 ($10,500 for those 50 or older). If you are self-employed and set up a Solo 401(k), you can sock away $41,000, or 25% of compensation up to $41,000 if you have a Simplified Employee Pension (SEP) plan. If you're covered by a retirement plan at work, you can still get a deduction for contributions to a traditional IRA if you make less than $55,000 a year ($75,000 for a married couple filing a joint return...
Date and time of transmission: 22 Sep...
...attaching to its individual disability policies a rider that would pay the employee's plan contributions plus the employer's match. [This year's limit for 401(k) contributions is $12,000; self-employed workers or small-business owners can set aside up to $40,000 in a SEP-IRA.] The added coverage pays a separate disability benefit for the retirement contribution, which is put into trust. Unlike savings in a 401(k) or IRA, the earnings in the trust are taxable each year...