Posted: Thu Feb 02, 2012 3:38 am
Hey guys.
It's tax time, and I owe the federal government roughly $400 in taxes.
I quit my job in 2010 and 2011 was my first year working for myself.
Because I'm currently ramping up income, I haven't gotten around to making any retirement contributions, which will reduce my tax bill, but I've got a few months before the deadline. '
I've currently got a Roth Ira with Vanguard and a 401k from my old place of work I can no longer make contributions to.
I'd ideally like to stay with vanguard to keep accounts simplified.
So I'd like to hear your suggestions for the best tax deductible retirement investment vehicles for a newly self employed person.
I hear a lot about solo 401ks and other choices employed people don't use.
One other related question.
Can anyone tell me on what form of my tax return I would note 401k contributions? I see where I note IRA contributions, but see nothing about 401ks.
Thanks.
It's tax time, and I owe the federal government roughly $400 in taxes.
I quit my job in 2010 and 2011 was my first year working for myself.
Because I'm currently ramping up income, I haven't gotten around to making any retirement contributions, which will reduce my tax bill, but I've got a few months before the deadline. '
I've currently got a Roth Ira with Vanguard and a 401k from my old place of work I can no longer make contributions to.
I'd ideally like to stay with vanguard to keep accounts simplified.
So I'd like to hear your suggestions for the best tax deductible retirement investment vehicles for a newly self employed person.
I hear a lot about solo 401ks and other choices employed people don't use.
One other related question.
Can anyone tell me on what form of my tax return I would note 401k contributions? I see where I note IRA contributions, but see nothing about 401ks.
Thanks.