Self-Employed Individuals Moving from SEP IRA to Solo 401(k) Plan Providers

June 10th, 2013

IRA Financial Group, the leading Solo 401K Plan provider of IRS compliant plans, has seen a significant increase in the number of self-employed and small business owners moving from the SEP IRA to the Solo 401(k) plan. A report generated by the IRA Financial Group has shown that since the beginning of 2013, a growing [...]

June 4th, 2013

When using a Solo 401(k) to make a real estate investment there are a number of ways you can structure the transaction: 1. Use your Solo 401(k) funds to make 100% of the investment If you have enough funds in your Solo 401(k) to cover the entire real estate purchase, including closing costs, taxes, fees, [...]

May 9th, 2013

The Solo 401(k) plan is unique and so popular because it is designed explicitly for small, owner only business. It’s a tax efficient and cost effective plan that offers all the benefits of a Self Directed IRA plan, and includes additional benefits, such as high contribution limits (up to $49,000) and a $50,000 loan feature. [...]

May 3rd, 2013

In general, an individual with a self-directed IRA that owns real estate is permitted to transfer in-kind the real estate to the a new Solo 401(k) Plan without tax or penalty. The IRS allows IRA holders to rollover IRA funds and assets in a 401(k) qualified retirement plan. Note – Roth IRA funds cannot be [...]

March 20th, 2013

The 2001 Economic Growth Tax Relief and Reconciliation Act included a provision that would allow small businesses to You may be claim a tax credit for part of the ordinary and necessary costs of starting a SEP, SIMPLE, or 401(k) qualified plan. The Solo 401(k) credit equals 50% of the cost to set up and [...]

August 15th, 2011

A 401k is meant to be used as a savings tool to put money away for your retirement. In some cases, you may be able to withdraw money before you are 59 1/2 years of age. However, it is usually discouraged, except if you are in dire straits. If this is the case, you may be able to take a Hardship 401k withdrawal. To withdraw money from your 401k, you must be able to show you are in a hardship situation. Situations that would be allowed to take a Hardship 401k withdrawal would be eviction, foreclosure or difficulty in paying for your basic living expenses.

August 15th, 2011

Our Individual 401K experts will take care of the entire set-up of your IRS compliant Individual 401k Plan. Our Individual 401k Plan experts and tax and ERISA attorneys are on site greatly reducing the set-up time and cost.