Ask TaxMama.Com Tax Information With A Mother's Touch Published by Eva Rosenberg, MBA, EA

Protected Retirement Personal 401(k) Big Fat Estate Tax Does ITIN Work for Work? Sold Property Polish Pension   IRS Reduces Standard Mileage Rate No Tax Package in 2002, Says Lott   The Thermos   E-Mail  This Page To A Friend Your email: Your name: TO email:

Protected Retirement » From: Bakersfield, CA Dear TaxMama: I have a SEP-IRA. I am self employed. No other employees. If I someone sues me and wins, is my SEP-IRA protected in any way? Sincerely, Joe Dear Joe, No, it is not. So, don't do anything to get yourself sued. Incorporate and set up a retirement plan that is operated by your company. You are quite eligible for the new one-person 401k. That would be protected. Stay tuned for the next article in this issue of Ask TaxMama - Personal 401(k). It will explain how that new investment works. Or speak to your financial planner. If you don't have someone to do that, talk to Bruce Drooks, JD, email: Brucetax at aol dot com. He can set it up for you. Not only do you get to put more money away, you even get to borrow against it. Incidentally, if you're seriously concerned about being sued, incorporate or set up an LLC, depending on what is best for your business. Best wishes, Eva Rosenberg Your TaxMama

Library of Congress -  ISSN 1532-0790 Copyright © 2000-2003 - Eva Rosenberg

Subscribe | Ask TaxMama ~ Send Her Your Questions | Site Search Home | This Week's Issue | Articles by TaxMama | For Tax Pros Investment Secrets | IRS News | Smart Tax Moves | Critical Dates Using Money Wisely | Money Funnies & Inspiration | Because We Care About TaxMama | Our Privacy Policy | Legalese and Disclaimer |

Certain graphics on this site were created especially for TaxMama by Serenata of Serenata Design. Site design & maintenance by Serenata Design.