24 Comments

1. 

   Grace Crump Vlogs on August 3, 2022 at 4:19 am

   Good video! But complicated SEP IRA, I have my LLC, but I think I will start my ROTH IRA! “First”

2. 

   Puneet Jajoo JR on August 3, 2022 at 4:19 am

   Big ups to everyone working effortlessly trying to earn a living while building wealth. I’m 50 and my wife 44 we are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. Saving and investing lifestyle in the financial market made it possible for us this early even till now we earn monthly through passive income.
   Thanks to fire movement.

3. 

   Jennifer on August 3, 2022 at 4:19 am

   When opening a SEP IRA (with Etrade) as a sole member LLC do I use my social security number or my LLC’s tax ID number? Also when making contributions do they have to be made from the business checking or mark in a specific way to be counting as contributions

4. 

   Ed on August 3, 2022 at 4:19 am

   Can someone clarify for an LLC that files as an S corp and pays the owner a salary and then takes the rest of the income as a disbursement whether the limit is based on just the salary income or the total income including the salary and disbursement?

5. 

   Rashad Howell on August 3, 2022 at 4:19 am

   Hey Travis, I enjoyed your video. I am a Realtor seeking a Self Directed IRA (ALTOIRA) to put away some of my commission checks. More specifically, ALTO has a Self Directed CryptoIRA! I does the public find trust worthy IRA's

6. 

   Richard Pino on August 3, 2022 at 4:19 am

   I'm a S-Corp, don't pay FICA or Medicare taxes, am considering doing so to fund a 401(k). Which makes more financial sense: not pay FICA/Medicare and invest that money elsewhere or pay the FICA/Medicare and fund the 401(k)? FICA/Medicare taxes are around 35-37% of income, if I understand it right…..

7. 

   Randal Richey on August 3, 2022 at 4:19 am

   I don't see that "factor rate" in Publication 560. Has that been changed?

8. 

   Tim McDaniel on August 3, 2022 at 4:19 am

   Dumb Question: So if my business contributes to the SEP then that amount can be subtracted as a business expense on Sch C, right?

9. 

   Davian Akers on August 3, 2022 at 4:19 am

   You should be addressing the deduction of being incorporated vs not being incorporated. You missed the incorporated part and employer vs employee contributions.

10. 

    Lebelle Beauty on August 3, 2022 at 4:19 am

    9:03, they have to make it complicated so you have a job..lol…good stuff.. thanks!

11. 

    Vivien on August 3, 2022 at 4:19 am

    Thanks for making this! Still a bit confused. I was under the impression that if I’m a sole proprietorship, and made 100k, I could simply put 25k into my SEP. Why do I need to subtract one half of the self employment tax?

12. 

    Ted Hu on August 3, 2022 at 4:19 am

    Hello, Travis, Thank you for your video. You explained very well. I am retired and have no wage income.. But my investment income in 2020 is above the traditional IRA cap so I can not contribute IRA to reduce taxes.. Can I make tax deductible contributions to solo 401K? or SEP IRA? Do they have income caps?

13. 

    gandibazaar on August 3, 2022 at 4:19 am

    Question. If I have a 2 member LLC with me and my spouse as partners but treated as S Corp for tax filing purpose. Only I take a salary have W2 and spouse takes no salary can we open SEP IRA for the spouse and how much can we contribute for spouse or she has to have W2 to open a SEP IRA for her?

14. 

    Jana L. on August 3, 2022 at 4:19 am

    Hi. Your video is awesome! I am a sole proprietorship and already filled for taxes. I just found out about SEP. Did you say I can still contribute for the 2019 year by this coming October? How do I do that? I go to Block Advisors for my taxes and have Mutual Account and ROTH IRA with Charles Swab. Thank you for your reply.

15. 

    Fitnessinyourmouth on August 3, 2022 at 4:19 am

    Thanks for the video. I am wondering, after looking into it here is what I have found regarding a Roth IRA and a Sep IRA. You can have both, however, whatever you contribute to your SEP (personally) means you have to subtract that from the allotment. So if I put 2k into my SEP personally, I could only put 4k into my Roth, right? However, if I am a business owner, am I able to contribute x amount into my Sep from the business and then 0 into it personally so that I can still input the regular amount into my Roth? Thanks in advance for any clarity regarding this question.

16. 

    MusicIsLyfe on August 3, 2022 at 4:19 am

    The way you write your 8 is atrocious. In fact, it might be a crime in certain jurisdictions.

17. 

    Marc Giles on August 3, 2022 at 4:19 am

    Incredible

18. 

    Jeff H on August 3, 2022 at 4:19 am

    Fuck my life. Is there a program that can calculate it for you?

19. 

    Nelson G. on August 3, 2022 at 4:19 am

    Thank you for info.

20. 

    Sean Tendler on August 3, 2022 at 4:19 am

    Thanks for the video, verh informative. When an employer contributes to a SEP IRA, are they contributing an additional amount (equivalent to 1-25% of employees' salaried), or is 1-25% of employees' salaries put into the IRA. For instance if an employee's salary was 100K, as the employer if I was contributing 1% to their SEP, would i give them 100K and then put 1000 in the IRA, or I would pay them 99K and thr other 1000 would go in the IRA?

21. 

    Billy Bob on August 3, 2022 at 4:19 am

    I'm 50% owner in a small business, My business partner doesn't want to be part of a SEP. We only have the 2 of us on the payroll, is their any way I can still open a SEP? Any comments would be appreciated

22. 

    Derek Kaden on August 3, 2022 at 4:19 am

    Thanks for the great info!! Awesome video.

23. 

    Joel Mitchell on August 3, 2022 at 4:19 am

    What is a small business owners responsibility to his or her employees on a sep ira!?

24. 

    A K on August 3, 2022 at 4:19 am

    Thank you