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Tag: Solo 401k Rules
12 June 2023 - 7:17, by , in Blog, No comments
This post shows you how to fill out a 5500-EZ for your Solo 401k.  You may be aware of this from the documents you received from your custodian or Solo 401k administrator.  If not, this is a form that you file with the government every year showing the value of the balance of your Solo...
15 May 2023 - 9:55, by , in Blog, No comments
People get excited when they find out they can hold real estate in their Solo 401k.  You can combine the benefits of tax-advantaged accounts along with real estate, but you must understand the whole story before you commit.  Real estate in your Solo 401k comes with additional risks and pitfalls.  Take some time to understand...
1 May 2023 - 11:13, by , in Blog, No comments
If you want to open a Solo 401k you must be certain that you are not violating the controlled group rule. A Solo 401k is a retirement plan for self-employed individuals or small business owners with no full-time employees other than themselves or their spouses. However, not everyone who is self-employed or owns a small...
20 February 2023 - 22:18, by , in Blog, No comments
The Solo 401k loan is a very important benefit of a solopreneur’s retirement plan.  IRAs (even SEP IRAs) do not permit loans!  It’s important to follow the rules if you ever need to use this benefit.  In this post, we will explore the specific benefits, pitfalls, and rules of the Solo 401k loan.  By the...
12 December 2022 - 10:02, by , in Blog, No comments
Your Solo 401k contribution due date depends on whether you have a sole proprietorship or a corporation.  If you have a corporation the employee deferral and the employer profit share are due at two different times.  It is very important to make your contributions by the correct due date to keep your plan in compliance. ...
28 November 2022 - 11:48, by , in Blog, No comments
Do you know how to pick a 401k plan administrator? This post will teach you exactly what you need to consider to make your choice. Your Solo 401k comes with additional responsibility compared to other retirement plans (like IRAs and SEP IRAs).  One additional responsibility is plan administration.  The administrator is responsible for making sure...
25 August 2022 - 22:09, by , in Blog, No comments
What is the best retirement plan for solopreneurs? It’s high time to implement best retirement plan you’ve never heard of: the Solo 401k. So, you’ve got a high cash flowing business and you know you need to take the next step to make certain that you keep as much control over that cash as possible....