Archive for August, 2011

Can I Use a Solo 401K to buy Coins?

August 31st, 2011

The Internal Revenue Code does not describe what a Solo 401K can invest in, only what it cannot invest in. Furthermore, the type of investments a Solo 401K Plan can make is generally based on the Solo 401(k) Plan documents. The IRS only describes the type of investments that are prohibited, which are very few. […]

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Can I Use a Solo 401K to buy Gold?

August 31st, 2011

A Solo 401K Plan, also known as an Individual 401K or Self Directed 401K Plan is a qualified retirement plan that was designed specifically by the IRS to provide the self-employed or the small business owner with no employees the same advantages of a conventional 401(k) plan but without the cost and administrative burdens.  The […]

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Can I Adopt a Solo 401K Plan for my Single Member LLC?

August 31st, 2011

One of the reasons behind the IRS creating the Solo 401K Plan is to be a cost effective retirement solution for the self-employed or a business owner with no employees.  The IRS wanted to provide the self-employed business owner with the opportunity to benefit from all the advantages of a 401(k) qualified plan but without […]

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Solo 401K Eligibility

August 26th, 2011

The Solo 401K plan is so popular because it is designed explicitly for the self-employed and small owner only business.  In order to determine if one is eligible to adopt a Solo 401K Plan, one must satisfy the eligibility requirements. The Solo 401K Plan, also called the Individual 401K or Self Directed 401K Plan was […]

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How does the Solo 401K Plan Work – A Step-by-Step Overview

August 25th, 2011

The Solo 401K Plan is a cost effective 401(k) plan that was designed specifically for the self-employed or the small business owner with no employees.  The Solo 401K Plan, also called the Individual 401K or Self Directed 401K Plan is a retirement plan designed to maximize contributions and be less complex and less expensive to […]

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Are all Solo 401K Plans the Same?

August 25th, 2011

When it comes to determining what type of 401(k) qualified retirement plan is best for a self-employed individual or small business owner with no employees, it is important to look at all the options the plan provides to make sure it will satisfy your retirement planning, tax, and investment goals. Most financial institutions offer Solo […]

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All About the Solo 401K with Checkbook Control

August 25th, 2011

It is commonly said that the Solo 401K Plan offers the same self directed investment opportunities as a Self Directed IRA LLC, in addition to offering many options not available with a Self Directed IRA. Solo 401K with Checkbook Control Like a Self Directed IRA with checkbook control, as the trustee of the Solo 401K […]

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What Types of Retirement Funds can I Roll into a Solo 401K Plan?

August 25th, 2011

When it comes to determining whether to adopt a Solo 401K Plan, one of the first questions that needs to be asked is whether the individual or small business is eligible to adopt the Plan.  The second question that generally arises is whether ones existing retirement funds are available for rollover into the Solo 401K […]

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What Type of Investments can I make with a Solo 401K Plan?

August 24th, 2011

A Solo 401K Plan offers one the ability to use his or her retirement funds to make almost any type of investment on their own tax-free and penalty free without requiring the consent of any custodian or person. Using retirement funds, such as a Solo 401K Plan to make investments offers a number of tax […]

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Understanding the Solo 401K Rules

August 24th, 2011

When it comes to understanding the rules governing making investments through a 401(k) qualified retirement plan or Solo 401K Plan, one must first understand the intent of the IRS when it first developed the prohibited transaction rules. The IRS and the Internal Revenue Code do not describe what a 401(k) qualified plan or Solo 401K […]

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