The Facts About the Solo 401(k) Plan

March 7th, 2014

The Solo 401(k) Plan is essentially a regular, plain-old, vanilla 401(k) plan that has one participant, who is a self-employed individual, or that person and his or her spouse. There is some misinformation being disseminated about these plans and we would like to set the record straight. We want to let you know what is […]

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How Do I know My Solo 401(K) Plan is Legitimate?

February 19th, 2014

It is very important that when adopting a solo 401(k) plan that the plan documents have been pre-approved by the IRS.  Once can confirm this by receiving a plan opinion letter generated by the IRS.  Generally, if an employer adopts a standardized master or prototype plan, the employer may rely on the master or prototype […]

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How To Buy Real Estate With My Solo 401K Plan?

February 12th, 2014

It is not widely known, but the IRS allows a 401(k) plan participant to buy real estate with their 401(k) plan.  As long as the solo 401(k) plan documents allow for it, a solo 401(k) plan participant is able to purchase real estate with their retirement funds.  The real advantage of using a solo 401(k) […]

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My Solo 401K Contribution Rules

February 12th, 2014

One of the most popular reasons for having a solo 401(k) Plan is the ability to make high annual contributions in either pre-tax or after tax (Roth format).  Under the 2014 Solo 401(k) contribution rules, a plan participant under the age of 50 can make a maximum employee deferral contribution in the amount of $17,500. […]

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Beware of Solo 401(k) Plan Providers Without an IRS Opinion Letter in Their Name

February 10th, 2014

Over the last few years there has been a growing number of company’s selling and marketing solo 401(k) plan documents. Unfortunately, a number of these new companies are selling plan documents without an IRS opinion letter or in some cases with an IRS opinion letter in the name of third-party. The Basic solo 401(k) plan […]

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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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Demand for Solo 401(k) Plan Expected to Increase in 2014 As Annual Solo 401(k) Plan Contribution Limits To Increase by $1,000 for 2014

January 7th, 2014

Self-employed individuals and business owners can defer up to $52,000 and $57,500 if over 50 years old in 2014. Starting on January 1, 2014, the Internal Revenue Services (“IRS”) announced that self-employed individuals and small business owners that have adopted a solo 401K plan for the 2014 taxable year will be able to make tax-deferral […]

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IRS Announces Annual Self-directed Solo 401(k) Plan Contribution Limitations To Increase by $1,000 for 2014

January 2nd, 2014

Self-employed and business owners can defer up to $52,000 and $57,500 if over 50 years old in 2014 Starting on January 1, 2014, the Internal Revenue Services (“IRS”) announced that self-employed and small business owners that have adopted a solo 401K plan for the 2014 taxable year will be able to make tax-deferral employee and […]

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