How Do I Know Which Ira Is Best for Me
Since you are not self-employed you do not need to be using TurboTax Self Employed. The contribution to your SEP IRA must be made by the S corp and is deductible on the S corps tax return not your individual tax return.
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Vanguard is one of the worlds largest investment companies with more than 49 trillion in global assets.
. Click Lists at the top. Right-click on the Simple IRA employeeemployer item then click Edit Payroll Item. Click Payroll Item List.
Then go to the Pay Liabilities tab to create a liability check. The maximum your S corp can contribute to your SEP IRA is 25 of your W-2 compensation. For me the distinction between the Roth IRA and traditional IRA is just details and perhaps something to talk about with a tax pro.
In the Agency for employee-paid liability window choose the correct vendor name. Let me show you how. Click Next until Finish.
TurboTax Premier is sufficient.
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