Personal Plans
These are the two personal plans Quest offers
What is a Traditional and Roth IRA?
These are the three employer plans Quest offers
What is SEP, SIMPLE, and Solo 401k?
These are the two specialty plans that Quest offers
What is an HSA and ESA?
The acronym IRA
What is an Individual Retirement Arrangement?
Documentation needed to establish an account with Quest
What is an Adoption Agreement, Fee Schedule, and Valid Government Issued ID?
Age an individual can make a catch-up contribution
What is 59.5?
This employer plan does not have a catch up contribution
This specialty plan does not have a catch-up contribution
What is a ESA?
The process of converting pre-tax funds to after-tax
What is a Roth Conversion?
Age when it is Required to take Minimum Distributions
A requirement to make a contribution to an IRA
What is Earned Income?
Form needed in addition to the Adoption Agreement, Fee Schedule, and Valid Gov Issued ID to open a SEP IRA
What is a SEP 5305?
HSA Contribution Limit, catch-up amount and age
Individual $3,650
Family $7,300
Catch-up age: 55
$1,000 catch-up
Contributions Deadline
4/15 & 10/15 for the extended deadline
The tax forms used to report a Distribution and Contribution respectively
What is a 1099-R and 5498?
The amount I can contribute to both my Traditional and to my Roth IRA in the same tax-year
$6,000 between both accounts, $7,000 if you are over 50
These two employer plans have the same maximum contribution limit
What is a SEP IRA and Solo 401k?
I can contribute to my child's ESA up until the age of ___. An ESA needs to be distributed or transferred once the account holder reaches ____.
What is 18 and 30?
The way funds are taxed when you take a taxable distribution, or make a Roth Conversion
T/F: Because Jerry made the maximum contribution to his Traditional IRA, he cannot contribute to his SEP in the same tax year.
False
Roth Ordering Rules
What are Contributions, Conversions, and then Earnings?
This employer plan can be contributed to with both Traditional (pre-tax) and Roth (after-tax) components
What is a Solo 401(k)?
You are covered under a high deductible health plan (HDHP)
You aren’t enrolled in Medicare.
You can’t be claimed as a dependent
What are the advantages of having a Self-Directed IRA?
Tax Advantages, Diversification, Control, Invest in what you know best, Social Investing, and Providing wealth for future generations
Elevator Pitch
Education, Networking, Self-Directed or Alternative Assets, Invest in What You Know Best, World Famous Customer Service