and two of the most popular IRA choices for self-employed people are SEP IRAs and Roth IRAs. Both are tax-advantaged accounts that are easy to open and maintain. However, there are important ...

and the modest contribution limit for a traditional or Roth IRA just isn’t going to cut it. Rather than run the risk of ...

A SIMPLE IRA, or Savings Incentive Match Plan for Employees, is a type of traditional IRA for small businesses and self-employed individuals ... than traditional and Roth IRAs, and it's cheaper ...

For more see Who can contribute to a Roth IRA? SIMPLE and SEP IRAs are for self-employed individuals or small business owners. To set up a SIMPLE IRA an employer must have 100 or fewer employees ...

Review and file an amended tax return: If after filing your taxes you discover missed deductions or credits for 2024 or ...

However, a backdoor Roth IRA conversion lets high-earners roll ... on any investment earnings during a rollover. If you’re self-employed and use a solo 401(k) plan, you may be ahead of the ...

If your child has earned income, they can contribute to a Roth IRA. Opening a Roth IRA for kids can significantly change ...

One of the main benefits to IRAs, Roth or traditional, is their accessibility — especially to self-employed people who can’t take advantage of a 401(k) plan. However, a traditional IRA is a ...

Saving for retirement on your own is a critical task if you don't have access to a workplace plan. Tax time is the best time ...

While the IRA is "designed primarily for self-employed people who do not have access ... an immediate tax deduction or benefit" with a Roth IRA, "your retirement distributions are tax-free." ...