How to choose a small business retirement plan in 2023

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  • Опубліковано 9 лют 2023
  • In this video, I dive deep into the options for small business retirement plans in 2023. From traditional IRAs, Roth IRAs, and Solo 401Ks to understanding how to utilize them together with workplace plans like 401k and 403b, I cover it all! I also introduce the updates in 2023 contribution limits and explain complex topics like non-deductible contributions and the mega backdoor Roth strategy. Whether you're a small business owner or someone looking to understand retirement planning better, this guide is tailored for you. Download the accompanying PDF guide from our Discord server and join me in securing your financial future!
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КОМЕНТАРІ • 16

  • @TravisSickle
    @TravisSickle  Рік тому +2

    Get the PDF on our discord server here... Join Link discord.gg/enuJThjHJ9

  • @FLOODOFSINS
    @FLOODOFSINS Рік тому +3

    You know how UA-camrs are trying to get into the boxing ring? I think we should have the Dave Ramsey types vs. Anti Dave Ramsey's types UA-camrs in a ring punching it out.

  • @irinajen6379
    @irinajen6379 4 місяці тому

    So, if I open an IRA or single 401K and still have to pay self employment tax including that amount - why the contributions called Pre-Tax? Should not that move lower my business tax’s?

  • @slowslug3247
    @slowslug3247 22 дні тому

    If your here for the Roth 401k, it doesn’t start til 26 minutes in. I wish there was a video on how to and where to open one up

    • @TravisSickle
      @TravisSickle  21 день тому

      Check solo 401k videos on the channel. It’s tricky to DIY it.

    • @TravisSickle
      @TravisSickle  21 день тому

      I should add chapters to this video

  • @user-fq1ii4sj7j
    @user-fq1ii4sj7j 4 місяці тому

    If I am self employed in a partnership and already have a 401k that my employees participate and I contribute to can I still have a solo 401k tied to a different opportunity?

  • @JuniperTreeee
    @JuniperTreeee Рік тому

    I put money into a ROTH funded by my employer. It wasn't deductible due to my income . Do I only backdoor when I've put the $6500 into that ROTH?
    Also does the income limit apply to total income with a business? I have both a 9 to 5 W2 job and an LLC. Can I contribute to my SEP via my business and my IRAs through work? Or is it all just assigned to me and my social security number?

    • @TravisSickle
      @TravisSickle  10 місяців тому

      workplace plans through work. Roth IRA, from your bank account and a self employed plan with your LLC.

  • @jattdentistry
    @jattdentistry 9 місяців тому

    Hi im trying to join the discord to view the pdf but it says link invalid. Any idea on how i might be able to obtain the PDF? Thanks!

    • @TravisSickle
      @TravisSickle  9 місяців тому

      I just checked and it should be working. Which one are you looking for the retirement plan limits?

  • @ninersnation2364
    @ninersnation2364 Рік тому +1

    Listened to a video from a year ago.......Nice mic lol

    • @TravisSickle
      @TravisSickle  Рік тому

      Thanks! Got a little help from some UA-cam audio engineers.

  • @tommyfisher2589
    @tommyfisher2589 Рік тому

    If I am self employed in a partnership and already have a 401k that my employees participate and I contribute to can I still have a solo 401k tied to a different opportunity?

    • @TravisSickle
      @TravisSickle  Рік тому

      Yes, but it doesn’t change the limits.