20 Comments

1. 

   joel gheiler on August 6, 2022 at 5:40 am

   When we retire, is our tax bracket calculated also by returns in our investments in our sep ira account?

2. 

   TRI CALL YOUR MAMA on August 6, 2022 at 5:40 am

   Wsup Travis good looking on the video. For the sep, is the taxed amount on the gains or all money that is withdrawn including the principle? Can you help me better understand? Thanks

3. 

   Al Rocky on August 6, 2022 at 5:40 am

   @ 5:33 "35 or 37% tax bracket… more sense to more money in Roth IRA" !?! That doesn't seem to make sense at all.

4. 

   Michelangelo Buonarroti on August 6, 2022 at 5:40 am

   But the fear is that in the future the tax will be HIGHER because our govmt spends money quicker than they collect it. Therefore Roth hedges for that future higher tax that is coming – and coming FOR SURE.

5. 

   Claudia Rodriguez on August 6, 2022 at 5:40 am

   This was super helpful! Thank you!

6. 

   Chewy on August 6, 2022 at 5:40 am

   wait, if I invest $1 into each account and turned in into $1 million, the SEP will be taxed $200k and the Roth was only taxed $.20? Is that correct?

7. 

   Christopher Sebastian Pulido on August 6, 2022 at 5:40 am

   As an employee- how can I contribute to the sep before it’s taxed… am I wrong to think that my income paid direct deposit has already been taxed … so wouldn’t I paying double tax

8. 

   usCalibration on August 6, 2022 at 5:40 am

   Travis. I like your video! It is well done and coming from a good place. However, your calculations and examples are not really correct Travis. The tax brackets are marginal tax brackets. You only pay the percentages on the amount above the limits, not on the whole amount. I have a feeling you are giving misguided advise to clients. To me, the decision comes down to the limits allowed on each account. Since the SEP limits are so much higher, that would be the preferred account on any small business that is making/reporting over $30k Net Income each year. That will ensure the FV is ultimately higher, regardless of the tax implications.

9. 

   bruce chen on August 6, 2022 at 5:40 am

   Is it worth converting SEP IRA to Roth IRA in a low income bracket year? Also how does it differ to converting from Traditional IRA to Roth IRA. It doesn't seem like I can do a backdoor Roth conversion from SEP, and is required to "sell" my shares for the year of the conversion instead of reporting as none deductible for the year prior like I can with Traditional?

10. 

    chulasexychica11 on August 6, 2022 at 5:40 am

    Is sep ira same as traditional ira??,

11. 

    john ayala on August 6, 2022 at 5:40 am

    if you make alot over 500,000 a year as an individual can i have a ROTH IRA or is that not allowed

12. 

    Leia Beekley on August 6, 2022 at 5:40 am

    I'm a business owner with 10 employees. I currently have a Roth IRA, and plan on opening a Simple IRA(i know this video is about SEP) for myself and employees. I know i have to match them, but being i already have a Roth IRA, am I able to max out a Simple IRA as well? So $6k for Roth and $13.5k for Simple for a total contribution of $19.5k as the Employer?

13. 

    Jami on August 6, 2022 at 5:40 am

    This was extremely helpful. Thanks, Travis!

14. 

    Esteban Alaniz on August 6, 2022 at 5:40 am

    Key is tax brackets if you invest when your young you will most likely be in a lower tax braket however as your career advances your tax braket may be much higher saving more money trough a Roth IRA . Key point is if you see your tax bracket changing in the future by the time you retire.

15. 

    Yuko Shinjimoto on August 6, 2022 at 5:40 am

    I like how your voice is so catchy and clear

16. 

    High Growth Labs™ on August 6, 2022 at 5:40 am

    English is my first language, I understand all of the words you are saying, but I still don't understand what you are actually saying. I would love to have a dumbed-down video on this "for dummies" where you go really slow and explain every single part in detail, as if you were explaining to a 3rd grader. XD

17. 

    Parsa on August 6, 2022 at 5:40 am

    I also have a question in regards to contribution. If the maximum amount it $6,000, is it possible to contribute money to traditional IRA and roll it over to Roth IRA in the same day?

18. 

    Parsa on August 6, 2022 at 5:40 am

    Don't taxes always increase? So, wouldn't it be a bit riskier to have traditional or SEP ira since they're pre taxed as you may not know how the tax rate will be by the time you retire. Right?

19. 

    Al Ducharme on August 6, 2022 at 5:40 am

    Thanks Travis! This is very detailed and it's nice to know I can replay it whenever I want. Putting the final touches on the 2019 return before the October 15 deadline. It's been a strange extended tax season to say the least. You're the best.

20. 

    dfire2472011 on August 6, 2022 at 5:40 am

    Hey I have a question for you is there a law that states that you have to pay taxes it you can do a video on it