Checkbook Control

Solo 401(k) Plans & After-Tax Contributions (Part 1)

Every so often there is the opportunity for a person to say, “I had no idea!”  Well, with a recent IRS Notice addressing “after-tax” contributions, not only will many people make this comment but they may also believe that the IRS is, as the saying goes, “throwing them a bone.” Especially if you are operating a self-administered Solo 401(k) plan,…read more →

Benefits of the Self-Directed 401(k) — A Couple More!

In the previous two blogs we examined a number of reasons why the 401(k) plan is in almost all circumstances better than the IRA.  The first two blogs provide significant benefits of the 401(k) to make even the most ardent supporter or the IRA sit back and take notice.  The 401(k) is really so much of a better plan that…read more →

Charitable Giving from an IRA or 401(k) – A Story

For those that are fortunate enough to consider charitable giving….congratulations!  Not only have you been blessed  with accumulating significant financial wealth, you deserve kudos for wanting to “pay it forward” through charitable giving. This blog is going to be off topic just a tad….while it still ties back to self-directed retirement plans, it comes from a different slant.  It is…read more →

Need More Reasons Why a Self-Directed 401(k) is Better Than a Self-Directed IRA?

This is the second of three blogs on the topic of why a self-directed (or self-administered) 401(k) is, practically speaking, always better than its more recognized sibling, the self-directed IRA.  In the first blog we examined some of the enticing  benefits of establishing the 401(k). But….. You do need to qualify for the 401(k) by having a legitimate business that…read more →

Is a Self-Directed 401(k) More Than Plan Documents?!

You’ve done your research, you understand the fee structure and you know you are eligible to establish a Solo 401(k) plan…great, you are on your way!  But now that you’ve made your decision on which plan document sponsor services you wish to retain, now comes  the nitty-gritty of how your plan should be structured and how your plan document sponsor does…read more →

How a Self-Directed IRA is Superior to a Self-Directed 401(k)?!

It isn’t……… Are we done with the blog? Okay, seriously, instead of a short blog on the few reasons why one might benefit or need an IRA over a 401(k) (and there are some reasons or benefits), why don’t we focus on why the 401(k) will, in almost all cases, outshine the IRA.  In fact, there are so many benefits…read more →

Self-Directed 401(k) Entity Name Change

Okay, this blog should be, uh, fairly self-explanatory….but, guess what?  Some Trustees of 401(k) plans (self–directed or not) have unfortunately had a mental block with this concept.  What is the concept?  As the title says, “Self-Directed 401(k) Entity Name Changes.” Now, if I asked you under what entity (business name and structure) you earned your income from in order to…read more →

IRS Warns About Continued Phone Scammers

As we enter into 2015, the IRS has come out with an updated reminder of the “Dirty Dozen.”  This list typically ties in 12 tax schemes that they wish to warn the general public about. One scheme that has been consistently on the Dirty Dozen list is the continued proliferation of phone scammers who are carrying on various tax scams. …read more →

Self-Directed IRA and Solo 401(k) Plans — Annuities

For the most part, individuals who self-direct are usually only interested in investing into the typical assets associated with self-direction…real estate, precious metals, hard money loans and countless other investment options.  They have wearied on the ups and downs of the market, and have grown apathetic (and, sometimes, downright mad) with the traditional options of stocks, bonds and mutual funds…and…read more →

IRS Form 5500-EZ and 401(k) Reporting Requirements

Folks, I can’t leave this alone, so pardon me for the fact that I am referencing it again. As a refresher and generally speaking, there are no annual IRS or DOL reporting requirements  a tax payer has for an individual 401(k) plan…with the following exceptions: 1)  Assets Greater than $250,000 — If the Fair Market Valuation (FMV) of your Solo 401(k)…read more →