Archive for March, 2016

Roth 401(k) Conversion and Rollover Questions Answered

March 30th, 2016

Can I convert a 401(k) Plan to a Roth 401(k) Plan? Yes. The Small Business Jobs Act of 2010, signed by President Obama contained a little-known provision, which went to affect on Sept. 27, 2010, allowing for the conversion of a traditional 401(k) or 403(b) account to a Roth in the same plan if their […]

Read More →

Choosing a Solo 401(k) Plan vs. a SIMPLE IRA

March 22nd, 2016

A SIMPLE IRA plan is similar to a Solo 401(k) Plan in that it is funded by employee deferrals and additional employer contributions. However, unlike a Solo 401(k) Plan, a SIMPLE IRA plan uses an IRA-type trust to hold contributions for each employee, rather than a single plan trust that is typical of a traditional […]

Read More →

Using Your 401(k) Plan to Fund a Business (ROBS)

March 15th, 2016

Leaving your job or thinking of leaving your job and a have 401(k) qualified retirement plan or other type of retirement plan? Why not use your retirement funds to invest in yourself instead of a falling stock market? With the recent turmoil in the U.S. stock market and the downward trend expected to continue, why […]

Read More →

Administering the Solo 401(k) Plan – The IRS Form 5500-EZ

March 9th, 2016

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 year, you will need to […]

Read More →

Solo 401(k) Plan Non-Deductible Contribution Tax Strategy

March 2nd, 2016

The Secret Way to Boost Your Annual 401(k) Plan Contributions 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 […]

Read More →