Posts by Travis Sickle, CFP®, EA®
Solo 401k Contribution Deadlines
2021 Solo 401k Contribution Deadlines Tax Entity Type 2021 Contribution Deadline 2021 Extension Contribution Deadline Sole Proprietor (Schedule C)April 15th, 2022October 17th, 2022LLC (Schedule C)April 15th, 2022October 17th, 2022PartnershipMarch 15th, 2022September 15th, 2022S-Corporation (Employer Contribution)March 15th, 2022September 15th, 2022S-Corporation (Employee Contribution)January 31st, 2022Not EligibleS-Corporation (Non-Deductible Employee)March 15th, 2022September 15th, 2022 2022 Solo 401k Contribution Deadlines…
Read MoreRoth IRA MAJOR UPDATE proposed for MORE TAX-FREE contributions
Here is the proposed bill Senators Burr, Casey Introduce College Savings Recovery Act
Read MoreIndex Returns Matrix Book 2022
Download Maxtrix Book 2022 Download
Read MoreBackdoor Roth IRA Pro Rata Rule Explained
The Pro Rata Rule is required when you convert a traditional retirement plan, whole or in part, to a Roth IRA and the traditional IRA has both aftertax and pretax money. The premise of the pro rata rule is to prevent higher-income earners from taking advantage of the backdoor Roth conversion without incurring additional taxes.…
Read MoreRoth IRA Contribution & Income Limits 2022
Roth IRA + Traditional IRA Contribution Limits 2022 IRA + Catchup Contribution 2021 2022 Roth IRA$6,000$6,000Roth IRA Age 50+$7,000$7,000Traditional IRA$6,000$6,000Traditional IRA Age 50+$7,000$7,000 Roth IRA Income Limits Filing Status 2021 Roth IRA Income Range 2022 Roth IRA Income Range Single$125,000-$140,000$129,000-$144,000Married Filing Jointly$196,000-$208,000$204,000-$214,000Married Filing Separately$0-$10,000$0-$10,000 Traditional IRA Income Limits Filing & Workplace Status 2021 IRA Income…
Read MoreHow to calculate self employment taxes
Self-employment taxes are the employment taxes for someone who is self-employed. They are separate from your state and federal taxes. If you want a quick answer, check line 12 on schedule SE. Continue reading if you want to understand how self-employment taxes work. Table of Contents Full Video Transcript: How to calculate self employment taxes…
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