The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Do I qualify for SEP-IRA?||Date: 9/13/2000 12:34 PM|
|Author: TMFExRO||Number: 24791 of 76594|
Thanks; what exactly counts as self employed? The outfit we are working for pays us as contractors, I assume that suffices?
The bottom line of Schedule C is your net income from self-employment. As an independent contractor, Schedule C is where you'll report your contracting income and expenses.
Also, are there any special steps one needs to take to set up a SEP-IRA? I am only able to find Roth/Ordinary IRA account applications at various brokerages.
AFAIK, any traditional IRA can accept SEP contributions. Check with your custodian.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|