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Recent content by davidan

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    Contribute to sep ira for tax year 2018 and withdraw 10K for house in 2019?

    that's still better than nothing. That pays for some of my furniture for the house at least.
  2. D

    Contribute to sep ira for tax year 2018 and withdraw 10K for house in 2019?

    My tax rate is high for 2018, it won't be for 2019. So if I do this I can save a few K from my 2018 taxes
  3. D

    Contribute to sep ira for tax year 2018 and withdraw 10K for house in 2019?

    I will be buying without a mortgage
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    Contribute to sep ira for tax year 2018 and withdraw 10K for house in 2019?

    Thanks, It will count as regular income but without any self employment tax right? Since the self employment taxes will already be paid on it.
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    Contribute to sep ira for tax year 2018 and withdraw 10K for house in 2019?

    What is the name of your state? FL Hello I plan on being a first time home owner in 2019, and I don't think I would make much money in 2019 since it will take me a while to find a job again. Since I won't be making much in 2019, I thought it would be great if I can use the 10K withdrawal from...
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    Does self employment tax (FICA) apply to the $5500 contributed towards IRA?

    This is very good, also about half of it does not get attached FICA taxes?
  7. D

    Does self employment tax (FICA) apply to the $5500 contributed towards IRA?

    Looks like this will be perfect for me
  8. D

    Does self employment tax (FICA) apply to the $5500 contributed towards IRA?

    I just found out about 401K which has higher limits. Just have to see I am able to use it since I am self employed.
  9. D

    Does self employment tax (FICA) apply to the $5500 contributed towards IRA?

    Thank you, I will research them. Can I contribute $5500 to both them? a total of $11000?
  10. D

    Does self employment tax (FICA) apply to the $5500 contributed towards IRA?

    What is the name of your state? FL I am self employed, I wanted to know if I contribute $5500 to a traditional IRA, does any tax (like FICA) get attached to the $5500? or will it be fully free of taxes? Is there anything else besides an IRA which I can use to lower this year's taxes?
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    Does the three year statute of limitation apply to low salary for s-corp?

    Due to bad advice of my accountant for the first few years of the S-Corp he set no salary or very low one. Does the three year IRS statute of limitation also apply in my case to prevent the IRS to go and modify my return because of the low/no salary the s-corp gave me? From what I have read...
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