The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/simple-ira-10156330.aspx

Subject:  SIMPLE IRA Date:  4/17/1998  1:24 PM
Author:  tlezer Number:  3569 of 121219

Good Day,
I've started my own S-Corp, with myself and my wife as the only employees. I also have the materials to set up a SIMPLE IRA with AmeriTrade. The questions I have is whether I need to make the contributions to the SIMPLE IRA on a monthly basis, or if it is 'legal'(with the IRS) to make a lump sum contribution at the end(or start) of the year?

The reason I ask is that right now we would like to use the money to pay down CC debt, and then focus on getting the IRA cash together later in the year.

thanx for anybody's help

tjl out
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us