Re: SEP and/or condo-ing advice needed
Well, we bought a three-unit house (very common in the Boston area) and we live in one unit as our primary residence and rent the other two out, so there are no corporate entities involved. I don't think a SEP-IRA requires a corporation...you're allowed to set up a SEP-IRA as an individual income earner. In other words, I don't think it'll be necessary to do any incorporation work. But to convert the capital gains from sale of the two units we don't inhabit into income, I might have to trust the units out and then have the trust pay my wife a big fee in the close. I don't know, I've still got to run this by an accountant.
But the big question I don't seem to be able to answer on the IRS site or on Fidelity, etc., is whether or not my income would disqualify her from SEP participation. If so, this is all a moot point in my circumstances.