SEP IRA

Posts Tagged ‘sep’

Question: I own 1000 shares in GM. I bought them at $10/share (ouch!). They are in my SEP-IRA.?

I would like to know:
1) What will happen to my shares if GM declares bankruptcy?
2) If it re-emerges from bankruptcy, and issues new stocks under a new name, what will happen to my stocks under the Obama plan?
3) If the stocks go to Zero, and new shares under a new name not given to old share holders, when can I deduct the losses on my taxes as the shares are in my SEP-IRA.
Thanks

Answer: Why would you wait for the company to go bankrupt?
(y
That company cannot last. They don’t make money. It is not possible.

Sell now, and save your money.

Can I have multiple properly structured Tax Free Income Retirement Plan

Question: Is my former employer required to contribute to my SEP IRA for 2008 if I didn’t work for them all year?

I worked for the same employer from 2001 until April of 2008. I received contributions to a SEP IRA for 2004-2007. I have not received anything for 2008. It was my understanding that there can be no last day of the year employment requirement and I am therefore considered an eligible employee. Is that true? Am I still due a Contribution for 2008?

Answer: If it is a ‘matching’ Contribution – that is, they put in a percent of what you contribute, and you didn’t, then they don’t.

For example, if you contributed $0 and they match it at 3%, their Contribution is 0.

IRA Mortar Attack in South Armagh

Rolling SEP IRA into 401K – Realty Academy – Chris Bird.mov