The best video, an excellent explanation. Thank you.
@rickA31272 ай бұрын
Hey really great video, you explained all the important details very concisely.
@Bormanb23Ай бұрын
Thanks for taking the time to respond, great video! clear and concise - so what I am a S-Corp business owner and my wife is a FT employee, can I still have a SEP account and be able to contribute? thank you
@jasoncrider91999 ай бұрын
Great info and breakdown. Very easy to follow and understand. Thank you!
@victormacias83984 ай бұрын
Great video! I have a S corp business but I do have a few full time employees. What do you recommend instead?
@el4teen4 ай бұрын
I would recommend looking at the 401k route. But it’s still possible to do a SEP if they havnt met a certain time period of being a full time employee. Definitely discuss with a financial brokerage for details of the full time time employee rule.
@tracykelley26323 ай бұрын
This is so helpful! I struggle with how I think of myself--owner or employee or both. I converted to S Corp and made myself the only employee, based on that I will get w2 for the first time in a long time. I also heard you say that the "company" contributes, so the monies should come from the company operating acct, not from my personal account, correct? I will lask my accountant for guidance on how to decide how much to contribute.
@rafaelcalderon77655 ай бұрын
very nice explained.
@yvonnediaz51588 ай бұрын
Thank you, very helpful. Is the contribution taken from your salary you set up or from the business directly?
@alphabgroup8 ай бұрын
Hi! Contribution is taken from the business directly. The salary is only used to determine what the maximum contribution allowed is. Step 1) What is your total salary for the year that was paid on W2? Step 2) Multiply #1 by 25%. This is your maximum allowed SEP IRA contribution amount (be aware of maximum for the year) Step 3) Have the business send this money to the SEP IRA brokerage and make sure the contribution is applied to the correct year.