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Traditional IRA Limit
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coup
Posted 2/5/2025 11:21 (#11090212 - in reply to #11090190)
Subject: RE: 831b


USA
ryank - 2/5/2025 10:04

Hi Folks,

Wife and I are married filing jointly.  I'm looking at contributing the max $7000 for each of us, so $14,000 combined.  I was looking to open the Traditional IRA in a Scwab account.  Can I contribute (1) lump $14000 or do I need to contribute (2) $7000 lots in her name and then my name ($7k in each of our names)???  I'd ask my accountant but I've hounded her with questions on another issue and I sense she's about to strangle me.
Thank You 



831b Captive looks to me like might be a better option than putting $ in an IRA. Can deduct the premium cost to the 831 b Captive Insurance Company that you setup. 831b Captive Insurance Company does not pay income tax on the underwriting gains ( premium income is underwriting gain). Link is about what an 831b Captive is.

https://www.captive.com/captives-101/what-is-a-micro-captive
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