What Kind of Investments Can Be Made with a Solo 401k Plan?

March 13th, 2018

A Solo 401(k) Plan offers one the ability to use his or her retirement funds to make almost any type of investment on their own without requiring the consent of any custodian or person. The IRS and Department of Labor only describe the types of investments that are prohibited, which are very few. The following […]

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Funding an Individual 401k Plan With a Rollover

March 6th, 2018

An individual who adopts an Individual 401(k), more frequently known as a Solo 401(k) Plan, may generally fund the Solo 401(k) Plan using two methods – the rollover process or by direct contribution. Most Solo 401(k) Plan documents will allow for the rollover of IRA or other pre-tax employer retirement funds, such as a 401(k), […]

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When Using a Solo 401k Plan, When Does UBTI Come Into Play?

February 27th, 2018

In general, most passive investments that your Solo 401(k) Plan might invest in are exempt from UBTI. Some examples of exempt type of income include: interest from loans, dividends, annuities, royalties, most rentals from real estate, and gains/losses from the sale of real estate. When an exempt organization such as an 401(k) Plan undertakes any […]

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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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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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