John’s Blog — Tidbits on a Lot of Things

Why You Should Strongly Consider an IRA Trust

There are a few reasons why you should strongly consider an IRA Trust.  Okay, let’s take the mystery out of this equation:  for the typical client establishing the IRA Trust, to them it really won’t look that much different than an IRA LLC.  Both will allow you to invest into non-traditional assets (e.g., real estate), and both will permit you…read more →

Taking a Distribution from Your Solo-K Tax Free?!

And, we aren’t talking about a Roth distribution after age 59 1/2!! Taking a distribution from your Solo-K tax free is possible. Now these plans (also marketed as Uni-K, Individual 401(k), self-directed 401(k) and self-administered 401(k) plans) are just like any 401(k) plan…which, generally, means that this might not be possible. Ah, the first thing you think: “The person has…read more →

Maximum Contributions to Your 401(k) with Less Income!

How do you have maximum contributions to your 401(k) with less income?  Enjoy Part 2 of a blog series on after-tax contributions you can make to your Solo-K plan (also marketed as Uni-K, self-directed 401(k), self-administered 401(k) and Individual 401(k) plans).  From the previous post on this topic, an initial introduction was provided to give a brief explanation as to…read more →

Super Charged 401(k) Contributions for Alternative Investments

When I have written blog posts, I have rarely used “hype” words.  You know them:  “super”, “new”, “improved”, “secret”, “top 10 reasons”, etc.   We know why bloggers use them, but many times we feel suckered when the content of the blog doesn’t live up to the hype of the blog title.  Well, I must admit that I am going…read more →

Self-Directed 401(k) Beneficiary Form

All the plan documents you receive for your Solo-K plan (also referred to as a Uni-K, Self-Directed 401(k), Self-Administered 401(k), Individual 401(k) Plan) are important in their own right.  The self-directed 401(k) beneficiary form is no exception.  In the concern of making sure all documents are being executed for the plan, some Trustees forget to execute the self-directed 401(k) beneficiary…read more →

Tax-Free Income from Your Business?!

  Anyone who has read my posts or spoken with me have always heard me say that PGI does not provide tax, legal, financial or investment advice….and, this blog is no exception to that.  But, if you interested in receiving tax-free income from your business and implementing this strategy, it is imperative that you review the permissiveness of this strategy with…read more →

Hobby OR Self-Employment?

Anyone who has ever spoke to me knows that I am an unabashed fan of the Solo-K plan (also known as a Uni-K, self-directed 401(k), self-administered 401(k).  Now, my support of the 401(k) doesn’t mean that anyone can establish the plan.  One must be self-employed in some capacity and qualify for the plan….as one might imagine, there must be either…read more →

Terminating Your Solo-K Plan

Terminating Your Solo-K Plan

The IRS states that 401(k) plans are created with the intent of continuing  in perpetuity; however, for the self-employed person with the individual 401(k) plan, terminating your Solo-K plan is not, per se, an “if”, rather a “when.”  As the Trustee of your Solo 401(k) plan, you fully understand this.   Therefore, it is incumbent upon you to understand that…read more →

What Can You Do With Your SIMPLE IRA?

What Can You Do With Your SIMPLE IRA?

The poor ole neglected SIMPLE IRA.  Many haven’t heard of it, fewer probably have one.  The SIMPLE IRA (Savings Incentive Match Plan for Employees) is associated with an employer plan, an alternative option to a company-sponsored 401(k) plan.  This post is not to promote the use of a SIMPLE IRA, as most SIMPLE’s would not be self-directed (but, they can…read more →

Watch Out for Scams to Collect IRS Taxes Owed

Watch Out for Scams to Collect IRS Taxes Owed

Watch out for scams to collect IRS taxes owed as the bad guys are getting better and better at doing bad things, and the IRS is trying its best to keep up with them.  Over the last few years, the IRS has implemented tools to help fight the problem but, as with any criminal endeavor, the crooks see $$ and…read more →