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Forum » Last day to contribute to IRAs for 2019
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Thread: Last day to contribute to IRAs for 2019

post 1610678031 07-15-2020, 12:14 PM
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  1. Bluestar92
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Last day to contribute to IRAs for 2019

Usually you have until April 15th but with the new tax extension deadline today is the day.

Max those Roths out (6k), you can bet tax rates are lower now than they will ever be.
post 1610678421 07-15-2020, 12:17 PM
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  1. supup
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Originally Posted By Bluestar92⏩
Usually you have until April 15th but with the new tax extension deadline today is the day.

Max those Roths out (6k), you can bet tax rates are lower now than they will ever be.
Roth is op. Been maxing for years. Always trying to convince my friends to contribute.
post 1610678611 07-15-2020, 12:18 PM
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#3
  1. HMFIC_BROWSIN
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My Sep-IRA was maxed last december.... Filed taxes on April despite freebie extension. Already halfway maxed for 2020 despite devastating covid economic depression.
post 1610679051 07-15-2020, 12:23 PM
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TFW MAGI too high for Roth IRA
post 1610680401 07-15-2020, 12:34 PM
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  1. Jms89
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Good advice brotha. Too many people squander their cash on useless chit only to be dead broke later in life.
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post 1610681291 07-15-2020, 12:43 PM
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Dumped 3k into vanguard yest
post 1610689481 07-15-2020, 01:58 PM
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#7
  1. Bluestar92
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Originally Posted By Jms89⏩
Good advice brotha. Too many people squander their cash on useless chit only to be dead broke later in life.
Exactly. People don’t realize you can withdraw any contributions to a Roth at any time without penalty.
post 1610689831 07-15-2020, 02:02 PM
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#8
  1. CrookedDink
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if you file for an extension you have until October 15, 2020

edit: my bad, this is only for SEP-IRA. Traditional/Roth IRAs are due today.

1040ES Q2 also due today for my self-employed brahs
post 1610690091 07-15-2020, 02:04 PM
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Lol just lol at people that throw $ in IRA's. do you want to wait till ur 65 to retire? manage your own funds you goons. inb4 oh i'll travel the world when retired!!

ya ur might. as an old ass gooon from your wheelchair
post 1610690581 07-15-2020, 02:09 PM
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Lmao @ using a Roth.

Dump as much as you want into an ETF that follows the S&p 500

$SPY is king
post 1610691691 07-15-2020, 02:22 PM
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#11
  1. Bluestar92
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Originally Posted By Skeptical_Hippo⏩
Lmao @ using a Roth.

Dump as much as you want into an ETF that follows the S&p 500

$SPY is king
I don’t understand, I can buy $SPY in my Roth.
post 1610694031 07-15-2020, 02:46 PM
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#12
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Originally Posted By Bluestar92⏩
I don’t understand, I can buy $SPY in my Roth.
No limits outside of your Roth though. You trade SPY like a regular stock with the same gains as whatever Vanguard/Fidelity fund you're buying for only 6k a year
post 1610694671 07-15-2020, 02:52 PM
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Originally Posted By Skeptical_Hippo⏩
No limits outside of your Roth though. You trade SPY like a regular stock with the same gains as whatever Vanguard/Fidelity fund you're buying for only 6k a year
no tax on the ira gains though
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post 1610694921 07-15-2020, 02:55 PM
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Originally Posted By FoxMcCocks⏩
TFW MAGI too high for Roth IRA
Can you go backdoor or mega backdoor Roth?
post 1610696031 07-15-2020, 03:08 PM
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#15
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Originally Posted By Skeptical_Hippo⏩
No limits outside of your Roth though. You trade SPY like a regular stock with the same gains as whatever Vanguard/Fidelity fund you're buying for only 6k a year
But who was capital gains tax?




I got cucked bc i didnt know tax rules. I had extra $ in my HYSA, so i dumped some into my regular IRA thinking I can reduce some of my taxable income a bit...but when i filed my taxes, it didnt have en effect bc I have a retirement plan through my work and my MAGI was too high and had to be below 10k or some chit. SMH.
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post 1610699741 07-15-2020, 03:54 PM
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  1. Toker095
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Originally Posted By Fozzy13⏩
But who was capital gains tax?




I got cucked bc i didnt know tax rules. I had extra $ in my HYSA, so i dumped some into my regular IRA thinking I can reduce some of my taxable income a bit...but when i filed my taxes, it didnt have en effect bc I have a retirement plan through my work and my MAGI was too high and had to be below 10k or some chit. SMH.
MAGI was too high

You sound well off and still try to save on the tax

When will it be my turn
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