Re: brag: car finally arrived
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fwiw I have a SEP and a fairly expensive car. It is possible to do both you know [img]/images/graemlins/smile.gif[/img]
jfish,
Nice.
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Retard alert. What is a "SEP"?
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SEP-IRA.
It's a retirement plan for self-employed individuals. For some reason, the maximum contributions per year aren't the usually $15k or whatever a 401k is, but rather $45k.
It's by far the greatest tax break that professional poker players can receive and I'd guess 90% of them don't have one.
It's for the USA if that wasn't clear. Non-US resident need not care about any of this.
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By far? How is a SEP IRA "by far" better than a solo 401k?
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Same thing more or less, I was grouping them together. Obviously a solo 401k is better if you make under $250k a year as you can sock away more. Problem is they aren't as widely available.
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