Eligible Employer Small Business Credit Does Not Apply to the Solo 401(k) Plan

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 [...]

February 21st, 2013

The IRS has always permitted real estate to be held inside IRA retirement accounts. Investments with a Real Estate IRA are fully permissible under the Employee Retirement Income Security Act of 1974 (ERISA). IRS rules permit you to engage in almost any type of real estate investment, aside generally from any investment involving a disqualified [...]

January 15th, 2013

The IRS has always permitted an IRA to purchase real estate, raw land, or flip homes. With IRA Financial Group’s self-directed IRA LLC solution, buying rental properties is as simple as writing a check and is tax-free. As the manager of your Self Directed IRA LLC, the IRA holder will have control over his or [...]

January 3rd, 2013

Individual 401K Limits 2013 Self-employed individuals and business owners with an Individual 401K Plan can defer up to $51,000 and $56,500 if over 50 years old in 2013 Starting on January 1, the Internal Revenue Services (“IRS”) announced that self-employed individuals and small business owners that have adopted an Individual 401K plan for the 2013 [...]

January 3rd, 2013

Self-employed individuals and business owners can defer up to $51,000 and $56,500 if over 50 years old in 2013 Starting on January 1, the Internal Revenue Services (“IRS”) announced that elf-employed individuals and small business owners that have adopted a solo 401K plan for the 2013 taxable year will be able to make tax-deferral employee [...]

October 30th, 2012

Since the creation of IRAs back in the early 1970s, the IRS has always permitted an IRA make real estate related investments. In fact, it states it right on the IRS website when discussing IRA investments. By using a real estate IRA, also known as a Self Directed IRA to buy real estate, the IRA [...]

October 30th, 2012

There is no exclusive plan rule for a Solo 401(k) Plan and SEP IRA. Only a SIMPLE IRA has an exclusive plan rule, meaning one can not combine a Solo 401k Plan with a SIMPLE IRA. Even though one can have a SEP along with a Solo 401(k) plan, there is generally not many benefits [...]

August 6th, 2012

Yes – a self-directed IRA LLC can have one IRA owner or more than IRA as a member of the LLC. A self directed IRA LLC owned by one IRA is treated as a disregarded entity for federal income tax purposes. Meaning the LLC is treated as a tax nothing, but is respected for limited [...]