how do i contribute to sep-ira correctly under vanguard?
am 03.10.2005 21:41:43 von peter
Hi i'm self employed and i would like to contribute to my sep- ira
account this year but not sure how. i want to pay myself 40K salary
and contribute 10k(25%) to my sep- ira account. i already has sep-ira
account set up under vanguard. however, when i'm on the vanguard
website it asked"Are you investing money from an employer-sponsored
retirement plan or IRA?", should i check yes since i'm the owner as
well? then, should i contribute under Individual 2005 Tax Year or
Employer 2005 Tax Year? i have already contributed my 10k earlier this
year from my business checking account. does that mean i only pay
myself 30k since 10k already went into sep-ira? tia for your help
peter
Re: how do i contribute to sep-ira correctly under vanguard?
am 03.10.2005 21:47:40 von Marlowe
Best bet is to pick up the phone and talk to a live person. Your SEP-IRA is
serious money and you don't need any guess work.
"peter" <> wrote in message
news:
> Hi i'm self employed and i would like to contribute to my sep- ira
> account this year but not sure how. i want to pay myself 40K salary
> and contribute 10k(25%) to my sep- ira account. i already has sep-ira
> account set up under vanguard. however, when i'm on the vanguard
> website it asked"Are you investing money from an employer-sponsored
> retirement plan or IRA?", should i check yes since i'm the owner as
> well? then, should i contribute under Individual 2005 Tax Year or
> Employer 2005 Tax Year? i have already contributed my 10k earlier this
> year from my business checking account. does that mean i only pay
> myself 30k since 10k already went into sep-ira? tia for your help
>
> peter