Comments on: Contribution Goals And Time Frames For Retirement And Education Savings Accounts

By: Ryan S.@uncommon-cents.net

Ryan S.@uncommon-cents.net — Thu, 13 Mar 2008 05:11:16 +0000

Wow, you have done a great job with planning (and in many cases funding) all those accounts! I’m impressed. I still have to dig out the $4K for my 2007 IRA, but that’ll be done within a month… somehow…

By: NCN

NCN — Thu, 13 Mar 2008 00:57:19 +0000

@LAL -
A SEP-IRA is a business retirement account, which can be opened by owners of a a ‘small’ business. I make money from blogging, and I can contribute a portion of it to my SEP-IRA.

By: Livingalmostlarge

Livingalmostlarge — Wed, 12 Mar 2008 19:57:24 +0000

What is the SEP IRA for?

By: NCN

NCN — Wed, 12 Mar 2008 04:38:55 +0000

Nicole – I talked to a CPA, and he indicated that since I have a single member LLC, my SEP-IRA contribution deadline is the deadline for filing the business taxes, including an extension. And, the IRS site seems to agree.
The deadline for other accounts is April 15th…
NCN

By: Nicole

Nicole — Wed, 12 Mar 2008 04:13:35 +0000

Hi there. Looks good. You may want to double check, but I dont think that even when you file an extension for your taxes that you get an extension on your contribution time. I used to work for a very large investment company and I seem to remember that people thought this was the case quite often and would delay their taxes just to make the contribution and get the deduction…but they were sourly suprised. If youre sure- great– ignore me, I just hate to see someone get in a bind! Keep up the great work here– I love the site