- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
1099 investment
Posted on 12/29/19 at 1:15 pm
Posted on 12/29/19 at 1:15 pm
Most of my income is W2, but I have some income that is 1099. Can I invest money in a SEP-IRA or individual 401k regardless of my other investing? If we are only talking 50-100k of 1099, which option would be more beneficial?
2
Posted on 12/29/19 at 2:02 pm to GeauxTigers777
I kind of went down the same rabbit hole with my other thread.
Do you already have a 401k through your W-2 job? Do you already have an IRA(traditional or Roth)?
You would likely be able to contribute more to a solo401k vs sep-ira, but it depends how what you are doing otherwise with your money.
Do you already have a 401k through your W-2 job? Do you already have an IRA(traditional or Roth)?
You would likely be able to contribute more to a solo401k vs sep-ira, but it depends how what you are doing otherwise with your money.
Posted on 12/30/19 at 8:47 am to GeauxTigers777
You can do a plan with that money (assuming you are reporting it on Schedule C).
You are limited not only to certain restrictions with that money, but also, certain overall restrictions that take into account your 401K or whatever retirement plan you have with your W-2 job.
Generally speaking, SEP-IRAs are simpler and cheaper, and solo 401Ks are more complex and more expensive, but also allow you to contribute more.
You are limited not only to certain restrictions with that money, but also, certain overall restrictions that take into account your 401K or whatever retirement plan you have with your W-2 job.
Generally speaking, SEP-IRAs are simpler and cheaper, and solo 401Ks are more complex and more expensive, but also allow you to contribute more.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News