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Can I open a SEP IRA (business retirement account) with a U.S. investment firm if I have a business in Mexico? |
I am an American currently living in Mexico-- have been since the beginning of 2006-- and I'm about ready to open a business here. I have the bulk of my money (which is a very modest amount) invested in stocks/bonds/securities with a U.S. investment firm but am finding that I'm having to pay a lot of taxes each year on my earnings. I have no retirement acct yet, and need some kind of tax shelter (not to mention some security for the future!) I am told that I could contribute MORE per year with a SEP than with a regular Individual IRA account. If I can't open a SEP IRA, then what would someone suggest I do in my situation? the way i read the tax law you should be able to -== if i am wrong i know you can but it in a regular or roth ira or both!!! |
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