Archive for the ‘Roth 401(k)’ Category

Roth Conversion Stretch Option Could be Answer to Republican Tax Plan

November 16th, 2017

Republican tax writers on Capitol Hill are still considering changes to 401(k) retirement savings programs, downplaying President Donald Trump’s repeated pledges not to touch retirement account. A proposal to lower contribution caps to 401(k) plans, which are not taxed until money is withdrawn from them, could limit the amount Americans can save for retirement or […]

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An Overview of the Solo 401(k) Plan Roth In-Plan Rollover

December 11th, 2014

For the past few years, plans with designated Roth accounts could allow an individual to roll over an amount from a non-Roth account into the individual’s designated Roth account in the same plan, but only amounts the individual could have had distributed from the plan, usually because the individual had attained age 59½ or had […]

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Can I borrow from my Solo 401K Plan any amount that is part of an in-plan Roth rollover?

December 10th, 2014

Internal Revenue Code Section 72(p) and the 2001 EGTRRA rules allow a Solo 401(k) Plan participant to borrow money from the plan tax-free and without penalty. As long as the plan documents allow for it & the proper loan documents are prepared and executed, a participant loan can be made for any reason. The solo […]

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Why Should You Have a Retirement Plan?

June 23rd, 2014

What is a 401(k) Plan? A 401(k) is known as an employer-sponsored employee benefit arrangement that is established for the purpose of providing retirement income for those that are eligible. But how does one contribute towards an account established on the participants’ behalf within a qualified retirement plan? The 401(k) participants have the option to […]

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Demand for Solo 401(k) Plan to Continue to Grow In Light of Annual Self-Directed IRA SEP Contribution Limitation Increase for 2014,

January 17th, 2014

2014 Self-Directed SEP IRA contributions to increase by $1,000, solo 401(k) plan continues to offer more tax and retirement benefits Starting on January 1, 2014, the Internal Revenue Services (“IRS”) announced that the maximum one can contribute to a SEP IRA cannot exceed the lesser of: (1) 25% of compensation, or (2) $52,000 for 2014. […]

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IRA Financial Group Reviews – The Best Solo 401(K) Plan Providers

January 14th, 2014

The Solo 401(k) Plan, also known as the Individual 401(k) or Self-Directed 401(k) Plan, is an IRS approved type of qualified retirement plan which is suited for business owners who do not have any employees, other than themselves and perhaps their spouse. The Solo 401(k) plan is not a new type of plan. It is […]

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Can I Roll a Roth IRA to a Solo 401k?

January 8th, 2014

In most cases, one is able to roll almost anytime of retirement account to a Solo 401(k) Plan.  The only exception is a Roth IRA, which is not eligible to be rolled into a Solo 401(k) Plan.  Hence, one can roll a Traditional IRA, 401(k) Plan, 403(b), 457(b), and a defined benefit plan tax-free and […]

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Recent IRS Guidance on in-Plan Roth Solo 401(k) Plan Rollovers Impacting Solo 401(k) Plan Owners

December 24th, 2013

IRS Notice 2013-74 offers guidance to solo 401(k) Plan owners on deadlines for adopting in-plan Roth rollover amendment The IRS on December 12, 2013 issued guidance in IRS Notice 2013-74 to qualified retirement plans, including the solo 401(k) plan, on in-plan rollovers to designated Roth Solo 401K accounts. The guidance in IRS Notice 2013-4 relates […]

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