How Does “Checkbook Control” Work with a Solo 401(k) Plan

February 15th, 2018

A Solo 401(k) is perfect for sole proprietors, small businesses and independent contractors. A Solo 401(k) plan is generally also referred to as a “checkbook control” Qualified Retirement Plan. In each case, a 401(k) plan is established whereby the participant serves as trustee and administrator of the Plan providing the participant with “checkbook control” over […]

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Are You Eligible to Open an Individual 401(k) Plan for 2018?

February 6th, 2018

A Solo 401(k) plan, also known as an Individual 401(k) plan, is well suited for businesses that either do not employ any employees or employee certain employees that may be excluded from coverage. A Solo 401K plan is perfect for any sole proprietor, consultant, or independent contractor. To be eligible to benefit from the Solo […]

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A Brief History of the Individual 401(k) Plan

January 30th, 2018

401(k) plans are named after the section of the Internal Revenue Code in which they appear, and apply to private sector employers. An Individual 401(k) plan, also called a Solo 401(k), a one-participant plan, self-employed 401(k) or self-directed 401(k) plan is a qualified retirement plan that was designed specifically for the self-employed or small business […]

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What Do You Get with an IRA Financial Group Solo 401(k)?

January 26th, 2018

With IRA Financial Group, you no longer have to spend $2500 to $5,000 or more to set up your Solo 401(k). IRA Financial Group provides Full Service Custom Retirement Solutions for significantly less than any company in the industry! Our one time low fee includes the following services: Free tax consultation with our Retirement Specialists […]

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Withholding Tax Rules with a Solo 401k

January 23rd, 2018

In 1993, Congress passed a mandatory withholding law. The law requires your plan administrator to keep 20% of all qualified plan (such as a Solo 401k) distributions to pay federal income tax before distributing the remainder to you. There are, however, some exceptions to the mandatory withholding rule. For example, amounts that are transferred directly […]

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Self-Employed for 2018? Check Out the Solo 401(k) Plan for Your Retirement Planning

January 18th, 2018

In 1981, the IRS formally described the rules for 401k Plans. The Solo 401k Plan is an IRS approved type of qualified plan. The Solo 401k plan is not a new type of plan. It is a traditional 401k plan covering only one employee. The plans have the same rules and requirements as any other […]

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Quick Recap of the 2018 Solo 401(k) Contribution Limits

January 6th, 2018

A Solo 401(k) participant can contribute to the plan as an employee and as employer. Employee Elective Deferrals For 2018, up to $18,500 per year can be contributed by the participant through employee elective deferrals. An additional $6,000 can be contributed for persons over age 50. These contributions can be up to 100% of the […]

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IRA Financial Group Sees 400 Percent Increase in Sales Since Offering Cryptocurrency Self-Directed IRA & Solo 401(k) Plan Solutions

December 29th, 2017

IRA Financial Group & IRA Financial Trust Company have become the leading self-directed IRA & Solo 401(k) Plan provider of cryptocurrency retirement account solutions IRA Financial Group, the leading provider of self-directed IRA LLC and Solo 401(k) Plans has seen over a 400 percent increase in sales since beginning to offer Bitcoin IRA and cryptocurrency […]

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