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<p class=MsoNormal><span style='font-size:11.0pt;font-family:"Microsoft Sans Serif","sans-serif"'>You
might also want to ask about a SEP IRA….(</span><span style='color:black'>Simplified
Employee Pension Plan) made for the self-employed. <o:p></o:p></span></p>
<p class=MsoNormal><span style='color:black'><o:p> </o:p></span></p>
<p class=MsoNormal><span style='color:black'>Pam Bero</span><span
style='font-size:11.0pt;font-family:"Microsoft Sans Serif","sans-serif"'><o:p></o:p></span></p>
<p class=MsoNormal><span style='font-size:14.0pt;font-family:"Microsoft Sans Serif","sans-serif"'><o:p> </o:p></span></p>
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<p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span
style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>
pianotech-bounces@ptg.org [mailto:pianotech-bounces@ptg.org] <b>On Behalf Of </b>Mark
Potter<br>
<b>Sent:</b> Friday, October 05, 2007 5:08 AM<br>
<b>To:</b> Pianotech List<br>
<b>Subject:</b> Re: Self-employed techs<o:p></o:p></span></p>
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<p class=MsoNormal><o:p> </o:p></p>
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<p class=MsoNormal><em><b>brittanykirk272@comcast.net</b></em> wrote:<o:p></o:p></p>
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<p class=MsoNormal>If you invest in an IRA, is the amount you invested exempt
from income tax AND self-employment tax?<o:p></o:p></p>
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<p class=MsoNormal>Brittney -<o:p></o:p></p>
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<p class=MsoNormal> <o:p></o:p></p>
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<p class=MsoNormal>You should definitely check with a tax specialist, but I
believe he will tell you that monies placed in a Traditional IRA are exempt
from both (they are subtracted from your net profit before any taxes are
figured), but monies placed in a Roth IRA are not. The Roth certainly has
some major advantages, though. When confirming this with an advisor, be
sure to check on what the current maximum annual contribution is that can be
deducted for tax purposes.<o:p></o:p></p>
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<p class=MsoNormal> <o:p></o:p></p>
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<p class=MsoNormal>Mark Potter<o:p></o:p></p>
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