What You Need to Know About Making Contributions to a Solo 401(k) Plan After 701/2 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, if...
Read Post
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 tax-free and go back...
Read Post
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...
Read Post
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)...
Read Post
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...
Read Post
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...
Read Post
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...
Read Post
Retirement accounts have become many Americans' most valuable assets. That means it is vital that you have the ability to protect them from creditors, such as people who have won lawsuits against you. In general, the asset/creditor protection strategies available to you depend on the type of retirement account you...
Read Post
The Roth Solo 401(k) Plan is the ultimate tax-free retirement solution for the self-employed. With federal and state income tax rates expected to increase in the future, gaining the ability to generate tax-free returns from your retirement investments when you retire is the last surviving legal tax shelter. With a Roth...
Read Post
Solo 401(k) Plan A Solo 401(k) Plan (also known as an individual 401(k) Plan or self-directed 401(k) Plan) is a retirement plan few of us are familiar with. So what exactly is it? What is a Solo 401(k) Plan? A solo 401(k) plan, or Individual 401(k) Plan, helps people who are self-employed. Additionally,...
Read Post
Get a Free Consultation