I have a quick question, hopefully.
Last year I was filing as a sole prop and created a SEP account to dump a bunch of money in for tax deductions and kicking off my portfolio. This year I am filing as an scorp and not quite sure what to do for a retirement fund for that structure yet, but I don't think it'll be a SEP. I'll be putting 5500 into a new traditional IRA for 2016.
If I convert my SEP to a traditional IRA, there won't be any tax ramifications will there? I wouldn't think so, but thought you guys would know for sure. I just want to bump the value of this account up to the next 10k for admiral fund investment purposes and this would do it.
All accounts are at vanguard and sitting in the money market at this time.