[SimL]

I have the opportunity to receive $8,000 consultation fees under my name or a UBO that I eventually receive the income from as a pass-through.

If I receive money in my name, do I pay self-employment tax and can I use whatever the max is for this year as an ROTH-IRA contribution? If through UBO can I personally do the IRA contribution?

Sim

[ebaines]

What is a "UBO?" If you receivne this from the UBO would they issue you a 1099 to document the income?

[AtlantaTaxExpert]

For clarity, please define UBO.

[SimL]

Ubo is unincorporated business organization
If paid through entity then $ passed through as k1

[AtlantaTaxExpert]

If the UBO is a partnership, then you will pay self-employment tax.

If you have earned income, you can fund any IRA.