In a previous post, we defined withdrawals and distributions, and then we explored the differences between them.Now that you have a better understanding of what they are, let’s dig into the question that gnaws at us all: how exactly are withdrawals and distributions taxed?Part of the answer to this question involves looking at the differences between how the different …Continue Reading
SEP
IRA and 401(k) Basics: What Are Withdrawals vs Distributions?
The world of terms associated both with retirement finances as well as taxation can quickly seem overwhelming, which is why we’ve put together this primer. It’s intended to help you start to work through the differences between retirement account withdrawals and distributions; in our next post, we’ll tackle how these retirement accounts are taxed.Since withdrawals and …Continue Reading
6 Tips for How to Save on Crypto Taxes
Nobody’s ever really thrilled about paying taxes. Even though most of us do the right thing and file our annual tax return, it’s always interesting to learn about ways to reduce how much we owe. If we can be strategic with how we manage our finances and assets and also reduce our tax burden, why wouldn’t we?As you likely already know, you must pay taxes on your …Continue Reading
SEP IRA Rules: Everything You Need To Know | Inside Your IRA
For self-employed individuals and business owners (including sole proprietors), understanding the SEP IRA rules ensures everyone can maximize their IRA account. Get the basics here.In this article:What Is SEP IRA? The Basic SEP IRA Rules When to Exclude Employees SEP IRA Contribution Limits How Different Is It from Other IRAs?SEP IRA Rules | Maximizing …Continue Reading
What is a SEP-IRA? | A Guide to Your Retirement Inside Your IRA
It is important to understand the criteria when learning the ins and outs of a SEP-IRA. So, exactly what is a SEP-IRA? Simply put, "SEP" stands for "self-employed person" and it is one type of IRA that's available to create in the U.S. An SEP-IRA holder may use the SEP funds in the same fashion as with other IRAs. There are no administration costs involved for self-employed …Continue Reading
