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...
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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...
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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,...
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A Solo 401(k) Plan, also called an Individual 401(k) Plan offers a self-employed business owner the ability to use their retirement funds to make almost any type of investment tax-free. This includes real estate without custodian consent. As long as a business exists with no full-time employees other than the owner and...
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The IRS approved Solo 401(k) Plan has been used by hundreds of thousands of small businesses for over 30 years. However, the scope of options available to Solo 401(k) Plan participants is determined based on the plan documents. To this end, most financial institutions that offer Solo 401(k) Plan restrict...
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A Solo 401(k) Plan offers one the ability to use his or her retirement funds to make almost any type of 401(k) alternate investment on their own without requiring the consent of any custodian or person. The IRS and Department of Labor only describe the types of investments that are...
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A Solo 401(k) is perfect for sole proprietors, small businesses and independent contractors.A Solo 401(k) plan is generally also referred to as a “checkbook control” Qualified Retirement Plan. In each case, a 401(k) plan is established whereby the participant serves as trustee and administrator of the Plan providing the participant...
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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...
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The Solo 401(k) Contribution Deadline is typically dependent on the type of entity that has adopted the Solo 401(k) Plan as well as the type of contribution – employee deferral vs. profit sharing contribution. Sole Proprietorship Employee DeferralIn the case of a sole proprietorship, a business owner under the age of 50...
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Solo 401(K) Annual Contribution Limits To Increase in 2018Just like the 2017 Solo 401(k), the 2018 Solo 401(k) contribution limits will increase. If you're a plan participant under 50, you can make a maximum annual employee deferral contribution in the amount of $18,500. You can make it in pre-tax, after-tax...
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