I've got lots of crypto for the short/medium term. But I want to talk about the long term. Also, short term tax write offs. I'm a 1099 independent contractor, and want to know whether it is better to open a traditional IRA or a SEP-IRA, and why I should go the SEP-IRA if that is your answer.
>>2538478
>long term
Buy SIA and ARK. Thank me in a year or so.
>>2538517
Nigger I'm 27, long term is 30 years. You don't have to sell me on crypto
>>2538532
>30 from now
>crypto
lmao good luck bro, the bubble will pop before that and all the lambos will be sold.
>>2538550
I make 150K a year, I'm not even talking about blockchain coins, I'm taking about a specific type of account to sit on for 30 years with short term tax write offs, aka an IRA. You can put various things into an IRA, from precious metals to stocks, bonds, or CDs. Traditional, safe investments to collect on way down the road.
Imagine if we could put crypto into a Roth IRA.
By the time this happens though the normies will certainly have ruined it.
>>2538590
I saw an add to buy ether into an IRA. You'd be insane to do that. Crypto prices change like watching microbes evolve, vs traditional investments moving like primate evolution. Everything is extremely short term and dynamic. Not that it isn't interesting to play that market
>>2538577
Good luck then man. I have no idea what you're talking about. I'm certain you'll succeed though.
>tfw poor
>>2538478
CPA here.
It depends on how much you want to contribute to the IRA. If you plan on contributing less than $5500 just do the traditional. Depending on your income, you can probably contribute more to the SEP.
I dont work for free so im not going to help you do the SEP calculation unless you send me .10 bitcoin.
>>2538677
I will not send you 1/10 a bitcoin, but I will send you this rare meme from 2007 of none other than Spagheddie Murphy.
And now my question becomes, why wouldn't everyone just use the SEP if you can contribute more or equal to the traditional IRA?
>>2538722
buy DGB
>>2538758
I would rather buy your mom's taint on D street
>>2538722
Because everyone isnt self employed. Thats what the SE in SEP stands for. No, you cant just say you're self employed and contribute to a SEP IRA. All this is reported on your 1040. There are limitations on your SEP contribution based on your self employment income. I'm sure you can find a calculator online.
Look, I do this shit for a living and dont want to talk about it at home. I just come here to pump shitcoins and spread FUD. I hope i set you on the right path.
Good night.
>>2538788
I see, thanks