What You Need to Know About Making Contributions to a Solo 401(k) Plan After 70 1/2 Unlike a Traditional IRA, which doesn't allow you to make pre-tax IRA contributions after reaching age 70 1/2, a solo 401(k) plan participant can make 401(k) plan contributions after age 70 1/2. In other words,...
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When you add a brokerage account to your Self Directed IRA LLC or Solo 401(k) Plan, you receive benefits such as alternative investments and the freedom of full checkbook control. Additionally, you gain direct control over the traditional investment mix of stocks, bonds and mutual funds. Your profits are...
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In general, the Solo 401(k) plan is easy to operate. There is generally no annual filing requirement unless the fair market value of your Solo 401(k) plan asset exceeds $250,000, as of December 31 of the previous year. If your Solo 401(k) plan assets exceed $250,000 as of 12/31 of the previous...
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Precious Metals IRA Because of advertising by precious metals dealers, it has become well known that precious metals can be held in an individual retirement account. As an IRA investor, you can purchase some of the most popular metals, such as gold, silver and palladium bullion.Individual retirement accounts can even hold...
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Roth Solo 401(k) for Real EstateUsing a Roth Solo 401(k) for real estate or other alternative asset investments is very tax beneficial. Federal and state income tax rates may increase. Therefore, it's important to generate tax-free returns from your retirement investments when you retire.With IRA Financial Group's Roth Solo 401(k)...
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Since the creation of the Solo 401(k) Plan back in the early 1980s, the IRS (Internal Revenue Service) has always permitted a Solo 401(k) to purchase, hold, or flip real estate. By using a Solo 401(k) (also known as a Self-Directed 401(k) Plan or Individual 401(k) Plan) to buy real...
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Self-Employed 401(k) Plan Advantages for Small Business OwnersA Self-Employed 401(k) Plan, also known as the Solo 401(k) Plan, is an IRS approved retirement plan. It is best suited for business owners who do not have any employees other than themselves and perhaps their spouse.The Self-Employed 401(k) Plan (aka, One-Participant 401(k)...
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What is a Solo 401(k)?The Solo 401(k) Plan is a retirement plan for self-employed individuals and small business owners. It has many of the attractive features of the employer-sponsored 401(k) Plan, with a few added perks specifically for the self-employed. What is a Solo 401(k) Retirement Plan? The Solo 401(k) is essentially...
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What Are the Solo 401(k) Prohibited Transaction Rules? The Solo 401(k) prohibited transaction rules are transactions you can’t make with a 401(k) Plan. Your Solo 401(k) plan gives you great flexibility in how you can make investments with your retirement funds. The US government created this Plan so individuals can save...
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In the case of an IRA, most people know that IRA contributions can be made in pre-tax, after-tax, or Roth. However, it is not widely known that a Solo 401(k) plan can allow you to make non-deductible plan contributions based off your income on a dollar for dollar basis. This...
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