Lending Funds to a Related Corporation is a Solo 401(k) Prohibited Transaction

August 9th, 2017

Zacky v. Commissioner, TC Memo 2004-130 The Zacky case involved three separate loans all of which were prohibited transactions under Section 4975(c)(1)(B), (D) and (E). The taxpayer, Mr. Zacky, was the president and sole owner of Aspects Inc. (“Aspects”), a corporation that maintained a qualified profit sharing plan. Mr. Zacky was one of many participants […]

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New DOL Fiduciary Rules Increasing Demand for Alternative Asset Investments with IRA Funds

August 3rd, 2017

Increased regulation on IRA financial advisors has lead to increased demand for self-directed IRA real estate and Solo 401(k) real estate plans IRA Financial Group, the leading provider of self-directed IRA retirement solutions, has experienced strong demand for its self-directed IRA real estate and Solo 401(k) plan solutions in light of the Department of Labor […]

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Why You Should Work with a Trained Tax Attorney to Establish a Solo 401(k)

August 2nd, 2017

Sales Representatives Who Are Not Trained Tax Attorneys/CPAs Should Not Be Establishing Solo 401(k) Plans There are several companies on the internet that advertise themselves to be Solo 401(k) Plan providers and experts. However, in most cases, the people that would be involved in drafting your Solo 401(k) Plan documents, as well as advising you, […]

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What is Required to Open a Solo 401k Plan?

July 26th, 2017

IRA Financial Group will help you set-up your Solo 401(k) plan quickly, professionally, and economically. The IRA Financial Group is attorney-owned and operated and its on-site tax and ERISA professionals will personally customize your Solo 401(k) Plan to fit the needs of your business as well as satisfy your retirement and tax planning goals. Once […]

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What The Law Says About Unrelated Business Taxable Income In Non-Real Estate Investments

July 24th, 2017

This article, written by Adam Bergman, originally appeared on Forbes.com – For many retirement account investors, understanding how the Unrelated Business Taxable Income Rules work, also known as UBTI, UBIT, or debt-financed income rules, and how they may potentially apply to one’s retirement account investment has been a challenge.  The main reason is that the […]

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Solo 401(k) Plan 20% Withholding Tax on Distributions

July 20th, 2017

Generally, under most Solo 401(k) Plan, distributions cannot be made until one of the following occurs: You die, become disabled, or otherwise have a severance from employment. The plan terminates and no successor defined contribution plan is established or maintained by the employer. You reach age 59½ or incur a financial hardship. The distributions can […]

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What Happens if Tax Was Taken Out of a 401(k) Rollover Distribution Going to a Solo 401(k) Plan?

July 20th, 2017

Generally, 401(k) Plan distributions of elective deferrals cannot be made until one of the following occurs: You die, become disabled, or otherwise have a severance from employment. The plan terminates and no successor defined contribution plan is established or maintained by the employer. You reach age 59½ or incur a financial hardship. The distributions can […]

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Required Distribution Rules for a Solo 401k

July 18th, 2017

Once you reach the age of 70 ½, you must start to better understand the required minimum distributions (RMDs) rules. That’s because, upon reaching this age, the IRS requires you to withdraw at least a minimum amount each year from all your Solo 401(k)s, IRAs and other retirement plans—except Roth IRAs—and pay ordinary income taxes […]

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