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Jun 29, 2006 2:04 pm

[quote=joedabrkr] [quote=moleary]

Regarding FICA:  For LPL's Insured Cash Account Program

FDIC insurance on cash sweep balances up to $1 million for single account holders and $2 million for joint account holders.

Hope that helps

FICA/FDIC? 

Jun 29, 2006 3:02 pm

my fault

read the thread to quickly

Jun 29, 2006 4:58 pm
The Answer:

[quote=Indyone]Yes.  Mine runs about 85% after ticket charges…

Ticket charges are costing you 5%?

What about FICA? Is it only up to a certain income level?[/quote]

Yes, ticket charges/SAM admin fees cost me about 5% of my production in aggregate.  The way I am structured (salary through an S-Corp.), my FICA/medicare stops at about $40,000.

...and yes, there are other admin costs such as my assistant, office rent, etc.  My net after that, but before income taxes is running right at 70%.