In this video I’m talking about the SIMPLE IRA 2020.
1:09 2020 SIMPLE IRA Contribution Limits
2:38 SIMPLE IRA Elective Contribution Examples
5:34 SIMPLE IRA Non-Elective Contribution Examples
6:50 SIMPLE IRA Rules to know
8:16 Why use a SIMPLE IRA
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TRAVIS T SICKLE, CFP®, EA®, AAMS®, CRPC®, RICP®
CERTIFIED FINANCIAL PLANNER™
Company Website:
twitter: @travissickle
Instagram:
facebook:
LinkedIn:
Sickle Hunter Financial Advisors
1646 W Snow Avenue
Suite 144
Tampa, FL 33606
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Gear Used in Videos
Partnership referral links
Aura Identity Theft Protection *Up to 50% off* HTTPS://www.aura.com/travis
Seeking Alpha *Special Discount $40 off*
All Amazon links are affiliate links
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Information in this video is for educational and entertainment purposes only.
sicklehunter.com/disclosures
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Can a church open a simple Ira?
If an employer contributes to the employee a nonelective contribution of 1 or 2%, will it reduce the taxable income of the employer? How will that affect the employee's taxes? Will they pay more due to employer contribution or they will just pay regular taxes?
Let's say an employee maxes out their contributions early on in the year. For the remainder of the year, can the employer still continue to contribute 3% of the employee's salary even though the employee is no longer allowed to contribute any further?
It's April 2021, can you make a contribution for 2020 into your simple IRA or it's too late?
Hello Travis, my spouse and I have solo 401K we contribute to. We now have 3 employees who are interested in having a retirement plan. What is the best way to proceed? Thank you
I have extra income from website ads and indeed if I go with SEP IRA it's complicated to calculate and that percentage makes it ridiculous. I just want to put all of that ad money into a plan. Simple IRA sounds like a win. Seems complicated to set up but worth it.
So in the first example, the employee contributes 3% ($1,500) yearly? That means $62.50 is taken out of each check correct?
I have a simple IRA for my business which I match 3% to my employees and I also contribute to my own plan. I also have a separate personal Roth IRA. Are you saying this is against the rules for me to have both?
What happens to the Simple IRA when laid off? Does it grow with no contribution?
Very good video man. Thank you
Great video! Keep up the good work.
1:09 2020 SIMPLE IRA Contribution Limits
2:38 SIMPLE IRA Elective Contribution Examples
5:34 SIMPLE IRA Non-Elective Contribution Examples
6:50 SIMPLE IRA Rules to know
8:16 Why use a SIMPLE IRA