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New Member
posted Oct 20, 2024 5:56:30 PM

S Corp Ira's and Distributions

Can I as the sole owner and employee in an LLC with S Corp taxation, put money into an IRA before year end, for myself as an employee of my own LLC, which would also lower any distribution?

0 2 4089
2 Replies
Level 15
Oct 20, 2024 9:13:22 PM

Level 15
Oct 21, 2024 6:34:20 AM

Although a SEP plan is the simplest, also see IRS Pub 560 for additional retirement-plan options:

https://www.irs.gov/pub/irs-pdf/p560.pdf