No. of Recommendations: 2
Perhaps I don't have the smartest accountant in the world as he has not come up with an IRA I can invest in. Of course he has tried to sell me some insurance products that he sells ...

Sounds to me like you need to talk to another accountant or two - preferrably ones who don't sell financial products.

A significant part of the work I do is helping clients arrange their affairs so they can take advantage of the tax breaks written into the law. If your accountant isn't able to do that for you, you need a new accountant.

From some of the other post I am taking that if I 'pay' myself a set 'salary' every month I can set up a certain IRA????

You won't "pay" yourself a "salary," you will actually pay yourself some kind of wages in exchange for the actual work you do. For some of my clients, it's a once-a-year paycheck, for others its twice a month. It all depends on what makes sense for you.

What type of IRA would that be???

There are only two kinds of IRA's - traditional and Roth. Some kinds of retirement plans set up by employers can use a traditional IRA as the ultimate place to put the money.

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