Plan ahead

Randy had a cousin that lives in Seattle and he owns his own telecommunication business. He is younger than us so I really think it is time that he consider putting his S corporation salary into a SEP IRA. That way with a SEP IRA he could actually put up to twenty-five percent of his salary into the IRA. This way you can also lower your payroll taxes when you have a modest salary. It is a win win situation all the way around.