SELF EMPLOYED, WANT REDUCE SELF EMPLOYED TAX. PLACE MONEY IN ROTH IRA OR ROLLOVER IRA

drosenok — Sat, 01 Jun 2019 15:54:26 GMT

BEST DEDUCTION? ROLLOVER IRA OR ROTH?

In the first place a ROTH is not deductible. And if you...

VolvoGirl — Sat, 01 Jun 2019 15:54:28 GMT

In the first place a ROTH is not deductible. And if you do a rollover it is not a deduction and make be taxable if you roll over or convert a Traditional IRA to a ROTH IRA.

Then any deductible IRA contributions will reduce your income and save you on regular income tax BUT will not reduce the self employment tax on the schedule C Net Profit. Sorry.

topic SELF EMPLOYED, WANT REDUCE SELF EMPLOYED TAX. PLACE MONEY IN ROTH IRA OR ROLLOVER IRA in Retirement tax questions

SELF EMPLOYED, WANT REDUCE SELF EMPLOYED TAX. PLACE MONEY IN ROTH IRA OR ROLLOVER IRA

In the first place a ROTH is not deductible. And if you...