Retirement planning for the W2 contractor
July 10, 2014 12:04 PM Subscribe
Independent contractor, working for several recruiting firms as a W2 employee, but on a contract-by-contract basis (so my employer may change once or twice a year). Can I do pre-tax withholding for retirement if these employers don't have a 401k (of any kind)?
posted by ASoze to Work & Money (2 answers total) 1 user marked this as a favorite
I've searched the green a few times (as well as the big G) on this issue, but I think the snowflake-y details skew the results in the wrong way. I am an independent contractor, working with several clients through several recruiting firms. The work I do is hourly, but I am a W2 employee of these recruiting firms (in effect, acting as an umbrella corp for me). I get my health insurance through one of these firms, but none of them offers any kind of retirement planning/withholding/accounts etc..
My question is, am I limited to solely using a Roth IRA, or is there a way for me to dictate pre-tax withholdings from my (ostensibly) full time employer, if they themselves do NOT follow a specific retirement plan?