Archive for August, 2013

Are all Solo 401K Plans the Same?

August 29th, 2013

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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Using a Solo 401(k) To Purchase Real Estate

August 27th, 2013

Most people mistakenly believe that their 401(k) must be invested in bank CDs, the stock market, or mutual funds. Few Investors realize that the IRS has always permitted real estate to be held inside 401(k) retirement accounts. Investments in real estate with a Solo 401(k) are fully permissible under the Employee Retirement Income Security Act […]

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Solo 401(k) Advantages

August 23rd, 2013

A Solo 401(k) is perfect for sole proprietors, small businesses and independent contractors such as consultants. A Solo 401(k) Plan can be adopted by any business with no employees other than the owner(s). The business can be established as a sole proprietorship, LLC, corporation, or partnership. A Solo 401K plan offers the same advantages as […]

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Asset & Creditor Protection for Your Solo 401k

August 20th, 2013

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 have (i.e. Traditional IRA, Roth […]

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Selecting the Best Solo 401(k) Provider

August 19th, 2013

Selecting the best Solo 401(k) plan provider is an important decision that should be researched thoroughly.  Below are several tips to help you select the best Solo 401(k) Plan provider for your self-employed or small business retirement plan. 1. Always Make Sure You Are Working With a Tax & ERISA Professional: There are several companies […]

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Purchasing Coins With a Solo 401k Plan

August 15th, 2013

The IRS does not list the type of assets or investments that may be purchased with retirement funds, but does indicate which categories of assets or investments are not permitted. The categories of transactions that are not permitted to be purchased using a Solo 401(k) Plan can be found in Internal Revenue Code Sections 408 […]

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IRA Financial Group Introduces Specialized In-House CPA Service for Solo 401(k) Plan Clients

August 14th, 2013

 New expert in-house CPA tax and ERISA service will be dedicated solely to assisting clients with individual 401(k) Plans on all tax and filing matters IRA Financial Group, the leading provider of open architecture self-directed Solo 401(k) Plans announces the introduction of its new in-house CPA service specifically dedicated to assisting Solo 401(k) Plan clients […]

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How to Fund a Solo 401(k) Plan with IRA, 401(k), 403(b), or 457(b) Plan Funds

August 12th, 2013

An individual who adopts a Solo 401(k) Plan may generally fund the Solo 401(k) Plan using two methods – the rollover process or by direct contribution. Most Solo 401(k) Plan documents will allow for the rollover of IRA or other pre-tax employer retirement funds, such as a 401(k), 403(b), or 457(b). The IRA holder or […]

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Why Choose a Solo 401(k) Plan Vs. a SEP IRA?

August 9th, 2013

A Solo 401(k) Plan is an IRS approved retirement plan, which is suited for business owners who do not have any employees, other than themselves and perhaps their spouse. The “one-participant 401(k) Plan” or Individual 401(k) Plan is not a new type of plan. It is a traditional 401(k) Plan covering only one employee.  Like […]

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Solo 401k Contributions Deadline

August 7th, 2013

The deadline for making Solo 401K Plan contributions is typically dependant on the type of entity that has adopted the Solo 401K loan as well as the type of contribution – employee deferral vs. profit sharing contribution. Sole Proprietorship Employee Deferral In the case of a sole proprietorship, a business owner under the age of […]

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