03-18-2008, 11:47 PM
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#1 |
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Savings Advisor
Join Date: Aug 2006
Location: Central CT
Age: 32
Posts: 761
Rep Power: 7  |
bought my 2007 roth today
i know, i'm late... and i couldn't even fund it fully.
i dumped 2500 in it for 2007, and i set up to auto deduct 200/month from now on into it. If I don't have it, i can't spend it  tax time next year, i should be able to dump the remaining 2500 in to it for 2008 (200x 12 = 2400 + 2500 = max 5k for '08)
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03-19-2008, 09:21 AM
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#2 |
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Piggy Bank
Join Date: Mar 2008
Location: pa
Age: 35
Posts: 77
Rep Power: 5 |
hopefully I can start one of those one day. Just not in the budget right now.
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03-19-2008, 12:09 PM
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#3 |
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Super Moderator
Join Date: Aug 2006
Location: West Coast
Posts: 773
Rep Power: 7 |
you have a lot of options with your 1099's. you can set up a sep-ira and some other things. a tax attorney and accountant would be good for you if you expect to make over 100k this year.
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03-19-2008, 12:11 PM
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#4 |
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Piggy Bank
Join Date: Mar 2008
Location: pa
Age: 35
Posts: 77
Rep Power: 5 |
getting a dependant would help with taxes also, and I am volunteering my services.
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03-19-2008, 12:24 PM
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#5 | |
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Super Moderator
Join Date: Aug 2006
Location: West Coast
Posts: 773
Rep Power: 7 |
Quote:
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03-19-2008, 01:06 PM
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#6 |
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Savings Advisor
Join Date: Aug 2006
Location: Central CT
Age: 32
Posts: 761
Rep Power: 7 |
lol
a dependent would help with my taxes, but in the long run, it costs WAY more to raise a kid than it does to help against my taxes. what is a sep-ira? |
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03-19-2008, 04:35 PM
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#7 |
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Super Moderator
Join Date: Aug 2006
Location: West Coast
Posts: 773
Rep Power: 7 |
SEP IRA | SEPIRA.com
it would be more of a tax shelter than retirement plan. but it could help with both. |
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03-19-2008, 04:53 PM
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#8 |
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Savings Advisor
Join Date: Aug 2006
Location: Central CT
Age: 32
Posts: 761
Rep Power: 7 |
"Sole proprietorships, S and C corporations, partnerships and LLCs qualify."
I'm not any of those 
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03-19-2008, 07:11 PM
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#9 | |
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Super Moderator
Join Date: Aug 2006
Location: West Coast
Posts: 773
Rep Power: 7 |
Quote:
self employed individuals and small business owners... SEP-IRA - Wikipedia, the free encyclopedia IRA Online Resource Guide - IRA-Funded Plans - SEP Plans - How to Set Up a SEP Plan Fidelity Investments |
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03-20-2008, 05:11 PM
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#10 |
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Savings Advisor
Join Date: Aug 2006
Location: Central CT
Age: 32
Posts: 761
Rep Power: 7 |
Well, i funded about $2k of this roth with visa
 bought 30 shares at $63.63. today closed at $64.35 so after my 19.95 trade fee, i'm up a buck
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