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#4
03-03-2005, 11:34 PM
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 Re: Contract Employee with no 401-K "Stuart A. Bronstein" <spamtrap[at]lexregia.com> wrote: - quote - > Thomas Healy <tomhealycpa[at]earthlink.net> wrote:
Correct, but the OP was a W-2 employee, not self-employed.> > "Ed Trembicki-Guy" <edtrembickiguy[at]iname.com> wrote: > > > Is there some retirement program that I, as an individual, > > > can make contributions to, that would have the same > > > tax-deferring benefits as a 401-K offered by an employer? > > > > > This year I worked as a W-2 based contract employee at one > > > company through a placement firm from whom I received my > > > weekly paycheck. The placement firm withheld all federal, > > > state and social security, but offered no 401-K program. In > > > the previous year I had worked for a company that had a plan > > > in which I could put 10% of my salary, pre-tax. > > If you had NO employment with a firm offering a 401(k) > > during 2004, the best you can do is a deductible IRA > > ($3,000; $3,500 if you are over age 50). > I thought there was a program that permitted unincorporated > businesses to create qualified plans similar to pension > plans. -- Tom Healy, CPA Boulder, CO Web: http://www.tomhealycpa.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#3
03-03-2005, 05:14 AM
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| Re: Contract Employee with no 401-K Thomas Healy <tomhealycpa[at]earthlink.net> wrote: - quote - > "Ed Trembicki-Guy" <edtrembickiguy[at]iname.com> wrote:
I thought there was a program that permitted unincorporated> > Is there some retirement program that I, as an individual, > > can make contributions to, that would have the same > > tax-deferring benefits as a 401-K offered by an employer? > > > This year I worked as a W-2 based contract employee at one > > company through a placement firm from whom I received my > > weekly paycheck. The placement firm withheld all federal, > > state and social security, but offered no 401-K program. In > > the previous year I had worked for a company that had a plan > > in which I could put 10% of my salary, pre-tax. > If you had NO employment with a firm offering a 401(k) > during 2004, the best you can do is a deductible IRA > ($3,000; $3,500 if you are over age 50). businesses to create qualified plans similar to pension plans. Stu << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#2
02-28-2005, 06:57 PM
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| Re: Contract Employee with no 401-K "Ed Trembicki-Guy" <edtrembickiguy[at]iname.com> wrote: - quote - > Is there some retirement program that I, as an individual,
Only an IRA.> can make contributions to, that would have the same > tax-deferring benefits as a 401-K offered by an employer? > This year I worked as a W-2 based contract employee at one > company through a placement firm from whom I received my > weekly paycheck. The placement firm withheld all federal, > state and social security, but offered no 401-K program. In > the previous year I had worked for a company that had a plan > in which I could put 10% of my salary, pre-tax. -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
02-28-2005, 06:38 PM
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| Re: Contract Employee with no 401-K Ed Trembicki-Guy wrote: - quote - > Is there some retirement program that I, as an individual,
As an employee without a company plan, you are limited to> can make contributions to, that would have the same > tax-deferring benefits as a 401-K offered by an employer? > This year I worked as a W-2 based contract employee at one > company through a placement firm from whom I received my > weekly paycheck. The placement firm withheld all federal, > state and social security, but offered no 401-K program. In > the previous year I had worked for a company that had a plan > in which I could put 10% of my salary, pre-tax. either a traditional IRA or a Roth IRA. -- Alan http://taxtopics.net << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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02-28-2005, 06:19 PM
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| Re: Contract Employee with no 401-K "Ed Trembicki-Guy" <edtrembickiguy[at]iname.com> wrote: - quote - > Is there some retirement program that I, as an individual,
If you had NO employment with a firm offering a 401(k)> can make contributions to, that would have the same > tax-deferring benefits as a 401-K offered by an employer? > This year I worked as a W-2 based contract employee at one > company through a placement firm from whom I received my > weekly paycheck. The placement firm withheld all federal, > state and social security, but offered no 401-K program. In > the previous year I had worked for a company that had a plan > in which I could put 10% of my salary, pre-tax. during 2004, the best you can do is a deductible IRA ($3,000; $3,500 if you are over age 50). -- Tom Healy, CPA Boulder, CO Web: http://www.tomhealycpa.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
02-27-2005, 02:12 PM
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| Contract Employee with no 401-K Is there some retirement program that I, as an individual, can make contributions to, that would have the same tax-deferring benefits as a 401-K offered by an employer? This year I worked as a W-2 based contract employee at one company through a placement firm from whom I received my weekly paycheck. The placement firm withheld all federal, state and social security, but offered no 401-K program. In the previous year I had worked for a company that had a plan in which I could put 10% of my salary, pre-tax. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| 401k, contract, employee |
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