Archive for January, 2013

Is there any Risk of Establishing a Solo 401(k) Plan?

January 24th, 2013

A solo 401(k) Plan is an IRS approved qualified retirement plan.  As long as certain eligibility requirements are satisfied, there is no risk for a business to adopt a solo 401K plan, also known as an Individual 401(k) plan or self-directed solo 401(k) Plan.  In addition, IRA Financial Group’s Solo 401(k) Plan has been pre […]

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Do I Need a Custodian with a Solo 401(k) Plan?

January 23rd, 2013

There are a number of people that make the claim that a Solo 401(k) Plan does not need a Custodian.  This statement is not accurate.  A Solo 401(k) Plan account must be held with a custodian.  A custodian is defined by the Internal Revenue Code as essentially a U.S. bank or financial institution.  Unlike a […]

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Where should I form my self-directed IRA LLC?

January 23rd, 2013

In general, one should form the self-directed IRA special purpose Limited Liability Company (LLC) in the state where the investment will be made.  This is especially important in the case of a real estate investment, since most states will deem an LLC engaged in a trade or business in that state if the LLC owns […]

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Can I Have a Solo 401(k) Plan and Contribute to an Employer 401(k) Plan?

January 23rd, 2013

Yes – the IRS and the ERISA rules do not include any exclusive plan rules.  Therefore, once can be a participant of more than one 401(k) Plan.  Thus, one can have a full-time job that offers a 401(k) Plan and participate in the plan as well as have a Solo 401(k) Plan.  They key is […]

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Can I have an IRA and a Solo 401(k) Plan at the Same Time?

January 15th, 2013

The 401(k) plan qualified plan rules do not contain an exclusive plan rule.  Hence, a plan participant is able to participate in an employer 401(k) Plan or Solo 401K Plan as well as make annual IRA contributions. Under the 2013 new Solo 401(k) contribution rules, a plan participant under the age of 50 can make […]

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Real Estate IRA Helping Retirement Investors Flip Homes Tax-Free

January 15th, 2013

The IRS has always permitted an IRA to purchase real estate, raw land, or flip homes.  With IRA Financial Group’s self-directed IRA LLC solution, buying rental properties is as simple as writing a check and is tax-free.  As the manager of your Self Directed IRA LLC, the IRA holder will have control over his or […]

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IRS Announces New Higher Annual 401(k) Plan Contribution Limitations for 2014 for the Individual 401K Plan

January 3rd, 2013

Individual 401K Limits 2013 Self-employed individuals and business owners with an Individual 401K Plan can defer up to $52,000 and $57,500 if over 50 years old in 2014 Starting on January 1, the Internal Revenue Services (“IRS”) announced that self-employed individuals and small business owners that have adopted an Individual 401K plan for the 2014 […]

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IRS Announces Higher Annual Solo 401(k) Plan Contribution Limitations for 2013

January 3rd, 2013

Self-employed individuals and business owners can defer up to $51,000 and $56,500 if over 50 years old in 2013 Starting on January 1, the Internal Revenue Services (“IRS”) announced that elf-employed individuals and small business owners that have adopted a solo 401K plan for the 2013 taxable year will be able to make tax-deferral employee […]

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