Archive for June, 2011

Being a Solo 401k Participant

June 30th, 2011

Solo 401K is a kind of retirement plan approved by the IRS that is designed to benefit a self-employed person or a single owner-employee of a company. It is other times known as Individual K, Single K or Self Employed 401K plan. It is not really a new plan but since the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) passed in 2001, it has gained popularity.

June 29th, 2011

There are several ways to save effectively for the long term: a Self Directed IRA, a self directed IRA LLC, a Self Directed Roth IRA, a Self Directed IRA real estate. Notice that all these options are self directed which means that the account holder is the one who makes the decisions about where his or her funds are allocated, for how long, and in what amount. After all, it is to the benefit of the account holder to see that the money grows and that he or she prospers.

June 28th, 2011

An individual 401K is referred to as a solo 401K, specifically designed in 2002 for the self-employed individual. In today’s economy, many have gone into a self-employment mode to make ends meet or have come across an opportunity for a career and lifestyle transition. The solo plan works similar to a self directed IRA, allowing for retirement planning and tax saving contributions with some additional business deductions for the owner.

June 27th, 2011

Named after its chief legislative sponsor, the late senator William Roth of Delaware, Roth IRA proved to be an instant hit with many people because it had more distinct advantages over the traditional IRA. This is special kind of retirement plan, called the Individual Retirement Account, for people in the USA. It is not taxed if certain conditions are met. The difference between the Roth IRA and other retirement plans is that in other types the tax break is given on the money deposited, but in the self directed Roth IRA, the tax break is given during the withdrawal of the benefits.

June 24th, 2011

The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.

June 23rd, 2011

What is the importance of an IRA? It is about preparing for retirement and taking advantage of tax savings, while you are working. Why learn about starting a self directed IRA and understand how it takes care of you during retirement?

Most of us participate in our first retirement account through an employer’s 401 program, but there are other reasons for contributing to a self directed roth IRA or a self directed IRA. There are also other options for retirement savings using a solo 401K or self directed IRA real estate selection. If you have already started saving for retirement, terrific, it proves that you are planning to reach your goal.

June 22nd, 2011

t’s a little-known fact that domestic or foreign Real Estate can be purchased with retirement account funds. When using a Self-Directed IRA LLC or Solo 401K Plan for investments in real estate, your profits are tax-deferred back into your retirement account.

June 22nd, 2011

A self directed IRA, a self directed IRA LLC and self directed IRA real estate and self directed Roth IRA are investment options that use retirement funds as way to accumulate wealth. For individuals new to this form of investing or for the newly retired, it may be shocking to learn that they can increase the amount of money in their retirement accounts by using the existing funds to invest in real estate, private notes and tax lien certificates, to name a few of the options.