Pre-tax savings for contractors

Subject: Pre-tax savings for contractors
From: Yvonne DeGraw <yvonne -at- SILCOM -dot- COM>
Date: Thu, 14 May 1998 09:05:44 -0700

Chris Welch-Hutchings wrote:
>I also like being able to sock away a lot of pre-tax $$$
>into a 401K, and get stock options too!

I can't dispute that we contractors have to buy our stocks at market price.

Just wanted to point out that most US contractors should be socking away
money either post-tax via a Roth IRA (if the income limits don't exclude
you) and/or pre-tax via a SEP-IRA or Keogh. The effective contribution
limits for a SEP-IRA are about 13% of net and for a Keogh about 22% of net.

Yvonne DeGraw, Technical Services o Technical Writing
yvonne -at- silcom -dot- com o Online Help o Web Documentation
Tel: 805/683-5784 o Database Publishing
Santa Barbara STC:

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