Can E2 visa holder have an IRA?
May 23rd 2008, 6:15 am
#1
Forum Regular
Thread Starter
Joined: Apr 2008
Posts: 103
Can E2 visa holder have an IRA?
Hello
I've just had a very long meeting with my CPA and she mentioned that one way of "avoiding" paying income tax on my discretionary income from my LLC is to sweep it into an IRA.
Does anyone know if an E2 visa holder can set up an IRA and what any negative implications might be?
Thanks
I've just had a very long meeting with my CPA and she mentioned that one way of "avoiding" paying income tax on my discretionary income from my LLC is to sweep it into an IRA.
Does anyone know if an E2 visa holder can set up an IRA and what any negative implications might be?
Thanks
May 23rd 2008, 10:00 am
#2
BE Forum Addict
Joined: Sep 2006
Posts: 1,966
Re: Can E2 visa holder have an IRA?
Surely those would be good questions for your accountant...? 
I suck at financial stuff, but my very basic understanding is that you can have one, but when you leave and go to remove the money, you're taxed at a pretty high rate on it then.
I suck at financial stuff, but my very basic understanding is that you can have one, but when you leave and go to remove the money, you're taxed at a pretty high rate on it then.
May 23rd 2008, 8:11 pm
#3
Up Yir Kilt
Joined: Oct 2002
Location: Scotland > London > San Francisco
Posts: 672
Re: Can E2 visa holder have an IRA?
Pop into your local Edward Jones office - locate an office at www.edwardjones.com
