SEP IRA

Archive for the ‘SIMPLE IRA’ Category

Question: Where do I start with learning about investing and retirement planning?

I have been an assitant to a financial advisor for 6 months and I am not satisfied with just knowing how to fill out forms and where to send them. I would like to know the meaning behind most of the financial world’s jargon (ETF’s, IRA’s, SIMPLE Plan, etc.) and also how to go about researching stocks. Where would I start? I really don’t have any knowledge of these things besides tid bits I picked up around the office. Any book suggestions for a beginner or any links?

Answer: It’s actually a little surprising that your employer isn’t providing you with more answers. Have you asked him/her? Expressed an interest in learning more? Not only for your own benefit, but it may help you with your career in that office too.

Another place for assistance may be your own bank. Many banks have financial advisors that help their customers gain a better understanding of the programs they offer. (Granted, they’ll probably be geared toward making you a client – but if you explain how you’re looking for information before making any commitment, they’re usually pretty accomodating.)

The last alternative, which may cost you a little money, is to check your local community college or continuing education programs. Many local high schools and such will offer evening (or weekend) seminars that offer basic instruction. (Sometimes these are partially funded by local branches of various financial institutions – so be on the look out if they try to push their products.)

If none of those are options, take a look online. Some companies like Fidelity or Edward Jones may have “tutorial” sections on their website that could help give you some basic information.

Good Luck!

Chicks on Flicks Episode no. 37 Reviewed: Red Cliff, Doubt, Obsessed, The Song of the Sparrow

Question: what are the advantages of a SIMPLE IRA vs. a 401k plan for my small business?

Answer: Lower administrative costs and headaches due to less stringent filing requirements. That’s it…. You’re basically funding IRA contributions for them. But, if you’re looking at putting money away for yourself…in an amount greater than 10k? Then it’s not worth it….pay the $$ to start a 401k. The cost differential is not that much different and it’s a true retirement plan. Pointless to put money into a Simple for your staff and then have them turn around and take it right out in 2 years. AND since the amount that you’re putting in for them is basically the same as with a 401k…you may as well just take the next step and take advantage of the extra $5k per year in contributions you can put in.

SIMPLE IRA‘s are for company’s whose owner is not married and not making very much in terms of income and isn’t concerned about retirement. Often times it’s because they think they will make so much in their business or can sell it for so much that it will fund their retirement….in most cases they are wrong on both counts.

The Jackets Green Part 2 – Provisional IRA Sinn Fein

Question: H&R Block at Home Basic?

I bought and sold only one mutual fund in a regular account (non-IRA) in 2010. I don’t have a business and don’t own any other mutual funds. I would like to avoid buying the H&R Block at Home Deluxe version and purchase the less expensive Home Basic version if I can report this simple mutual fund transaction. Can you tell me if the Home Basic version can handle this simple mutual fund transaction?

Answer: Using the information from the 1099-B for sale of the mutual fund shares you will have to use the schedule D of the 1040 tax form for this purpose and the home basic software should be able to handle this for you.
Just make sure that you keep the software program updated from the website as you could be having some changes going on since the software program was produced for sale.
Hope that you find the above enclosed information useful

La Ira de Hurakan Condor (primera parte) – PortAventura 2010