Today we’ll talk about the mechanics of investing if you are a 1099 subcontractor. Weather you choose the Roth IRA, SEP IRA or the Traditional IRA, we’ll show you how it all works given your income. Self employed and subcontractors do have manay advantages when it comes to retirement investing but often times get tripped up on the little details. No more! Today we cover it all!
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(Me in 2020 hearing) 1:20 “Got a little bit of a cold today”
(Looks at the upload date) “1 year ago”
Me : hmm smh
I like calling it my "dough". Lol
Great intro man. Get to the point. Thx.
Great video what about the charges on IRA generally where is the best deal to have
What about solo 401k?
You had me at "ROTH" @12:45
Friendly edit alert: typos in the description: "[Whether] you choose…" and "have [many] advantages…"
There are actually better options available. Please seek professional assistance from a CPA. You can actually create your owned defined benefit pension plan, including some truly fabulous cash balance plans that if you are a truly high earner, could allow you to defer substantially more than the plans noted in this video (very much into the north 6 figure range). No offense to Dustin. I would also note, that these plans allow, even for cash basis taxpayers, a tax year deduction for payments made up until you file the tax return by September 15 the following year, something the above plan types do not allow (they only allow for up to April 15).
DUSTIN great video and thanks for the shout out as always very informative
Hey do you want to cover self managed IRA accounts? Also do you offer self managed retirement accounts? I'm super interested in them and would appreciate it if you could do an episode or a w
Few in them cause you explain things super clearly. Also what exactly the restrictions are in what you can buy and invest it in with self managed retirement accounts because I know there's not any Co mingling allowed
Might be good to mention individual 401k. You can contribute more with individual 401k and IRA combined.