Tag: IRAs
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New IRS Rule Spoils SEP-IRA for Musicians
The SEP-IRA has been a key retirement tool for self-employed and 1099 musicians, but its value just got unexpectedly reduced last month, buried in the details of a 249-page release of new IRS regulations. I’m afraid that many self-employed musicians who read this may want to fund a different type of retirement account or may decide…
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7 Missed IRA Opportunities for Musicians
The Individual Retirement Account (IRA) is the cornerstone of retirement planning. Unfortunately, many musicians miss opportunities to fund an IRA because they don’t realize they are eligible. With the great tax benefits of IRAs, consider funding yours every year you can. Here are seven situations where many musicians don’t realize they could fund an IRA.…
