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DB
Joined: 20 Oct 2005
Posts: 2
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 Posted:
Thu Oct 20, 2005 7:05 pm Post subject:
S-Corp Retirement Account Questions |
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I am organized as an S-Corp for consulting I am performing. Last year I was doing similar work but was filing as self-employed. I do not have employees; it is only me.
Questions:
(1) Can I contribute to the SEP-IRA I openned last year as an individual through my S-Corp?
(2) Does my S-Corp need to open its own retirement account?
(3) for my situation, which type of retirement account should I open?
(4) Do the well known retail brokers offer S-Corp owned accounts? (i.e. Ameritrade, Fidelity, BrownCo, TD Waterhouse, Etrade etc.)
Thanks
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DB
Joined: 20 Oct 2005
Posts: 2
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Thu Dec 15, 2005 11:44 am Post subject:
Bump my question |
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 I really wanted answers from the resident experts ... so, I am trying again. |
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kristinecfp
Joined: 12 Jan 2006
Posts: 9
Location: Lee's Summit, MO
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Mon Jan 23, 2006 3:23 pm Post subject:
SEP IRA for S Corp |
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Hi DB,
You probably need to open a new SEP IRA now that you have an S-Corp, especially if you want the S-Corp to make matching contributions.
A SEP IRA is a good option for single owner S-Corps because it allows you to put a higher amount in each year. If you have employees, or will be adding employees, you might want to compare the SEP IRA to the Simple IRA to see which type of account is better for you.
Yes, the brokers you mentioned in your email should all offer SEP IRA accounts, for individuals and companies.
Hope this helps,
Kristine
_________________
Five Financial Mistakes Solo Professionals Make ~ Free Teleseminar
http://tinyurl.com/kcza9 |
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