Posts Tagged ‘sep ira for llc’
Sep Ira For Llc
October 21st, 2005
Question: What is the best way to use my old 401K to fund my music career?
I’m 30, I have an old 401K from my past job. Should I create an LLC for myself, transfer to a SEP or SIMPLE IRA? What are the tax or penalties? Any new legislation for start-ups? Thanks!
Answer: you should be saving that money for retirement – withdrawing it now will cost you between 15-30% of it to taxes and penalty
just do a direct rollover to a regular IRA and leave it there
Elite Pensions LLC IRA part 1 of 4
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